{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\unknown\Dropbox\Labor, Rentier States and SE\PK and SE\REPLICATION Data and Do Files\BlantonPeksenCMPSreplication log.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}16 Jan 2024, 22:16:26

{com}. do "C:\Users\unknown\Dropbox\Labor, Rentier States and SE\PK and SE\REPLICATION Data and Do Files\BlantonPeksenCMPSreplication do.do"
{txt}
{com}. *Replication codes for "Peacekeeping Operations and Shadow Economy Growth in Host Countries," Blanton and Peksen, CMPS
.  
. *Table 1
. xtreg is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0703{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0480{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0248{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}11{txt},{res}4784{txt}){col 67}={col 70}{res}    32.90
{txt}corr(u_i, Xb){col 16}= {res}-0.6792{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.1050583{col 31}{space 2} .1134937{col 42}{space 1}   -0.93{col 51}{space 3}0.355{col 59}{space 4}-.3275582{col 72}{space 3} .1174416
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0945499{col 31}{space 2} .0689877{col 42}{space 1}    1.37{col 51}{space 3}0.171{col 59}{space 4}-.0406976{col 72}{space 3} .2297975
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}  .415941{col 31}{space 2} .1028669{col 42}{space 1}    4.04{col 51}{space 3}0.000{col 59}{space 4} .2142745{col 72}{space 3} .6176075
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1574223{col 31}{space 2} .0332617{col 42}{space 1}    4.73{col 51}{space 3}0.000{col 59}{space 4}  .092214{col 72}{space 3} .2226306
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.3990148{col 31}{space 2} .0785851{col 42}{space 1}   -5.08{col 51}{space 3}0.000{col 59}{space 4}-.5530778{col 72}{space 3}-.2449517
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001158{col 31}{space 2} .0000314{col 42}{space 1}    3.69{col 51}{space 3}0.000{col 59}{space 4} .0000542{col 72}{space 3} .0001773
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0107812{col 31}{space 2} .0009538{col 42}{space 1}  -11.30{col 51}{space 3}0.000{col 59}{space 4}-.0126512{col 72}{space 3}-.0089113
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0933932{col 31}{space 2} .0204711{col 42}{space 1}    4.56{col 51}{space 3}0.000{col 59}{space 4} .0532605{col 72}{space 3}  .133526
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.003892{col 31}{space 2} .0009659{col 42}{space 1}   -4.03{col 51}{space 3}0.000{col 59}{space 4}-.0057856{col 72}{space 3}-.0019985
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0167277{col 31}{space 2}  .003376{col 42}{space 1}    4.95{col 51}{space 3}0.000{col 59}{space 4} .0101093{col 72}{space 3} .0233461
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0077021{col 31}{space 2} .0029569{col 42}{space 1}    2.60{col 51}{space 3}0.009{col 59}{space 4} .0019053{col 72}{space 3}  .013499
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -13.2995{col 31}{space 2} 5.604595{col 42}{space 1}   -2.37{col 51}{space 3}0.018{col 59}{space 4}-24.28709{col 72}{space 3}-2.311919
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0355572
          {txt}sigma_e {c |} {res} 1.2088287
              {txt}rho {c |} {res} .42325522{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4784{txt}) = {res}11.65{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0721{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0447{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0236{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    30.99
{txt}corr(u_i, Xb){col 16}= {res}-0.6944{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2} .1918442{col 31}{space 2} .1493764{col 42}{space 1}    1.28{col 51}{space 3}0.199{col 59}{space 4}-.1010024{col 72}{space 3} .4846907
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-.4511307{col 31}{space 2} .1603255{col 42}{space 1}   -2.81{col 51}{space 3}0.005{col 59}{space 4}-.7654424{col 72}{space 3}-.1368189
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .1055966{col 31}{space 2} .0690226{col 42}{space 1}    1.53{col 51}{space 3}0.126{col 59}{space 4}-.0297195{col 72}{space 3} .2409127
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4052159{col 31}{space 2} .1028376{col 42}{space 1}    3.94{col 51}{space 3}0.000{col 59}{space 4}  .203607{col 72}{space 3} .6068249
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1530131{col 31}{space 2} .0332642{col 42}{space 1}    4.60{col 51}{space 3}0.000{col 59}{space 4}    .0878{col 72}{space 3} .2182263
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4265863{col 31}{space 2} .0790344{col 42}{space 1}   -5.40{col 51}{space 3}0.000{col 59}{space 4}-.5815301{col 72}{space 3}-.2716425
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}  .000109{col 31}{space 2} .0000314{col 42}{space 1}    3.47{col 51}{space 3}0.001{col 59}{space 4} .0000473{col 72}{space 3} .0001706
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0106849{col 31}{space 2} .0009535{col 42}{space 1}  -11.21{col 51}{space 3}0.000{col 59}{space 4}-.0125543{col 72}{space 3}-.0088155
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}  .095375{col 31}{space 2} .0204636{col 42}{space 1}    4.66{col 51}{space 3}0.000{col 59}{space 4} .0552569{col 72}{space 3}  .135493
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0039738{col 31}{space 2} .0009654{col 42}{space 1}   -4.12{col 51}{space 3}0.000{col 59}{space 4}-.0058664{col 72}{space 3}-.0020812
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0166656{col 31}{space 2} .0033731{col 42}{space 1}    4.94{col 51}{space 3}0.000{col 59}{space 4} .0100528{col 72}{space 3} .0232784
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0084436{col 31}{space 2} .0029643{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .0026322{col 72}{space 3} .0142549
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-14.57823{col 31}{space 2} 5.615364{col 42}{space 1}   -2.60{col 51}{space 3}0.009{col 59}{space 4}-25.58692{col 72}{space 3} -3.56953
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0586925
          {txt}sigma_e {c |} {res} 1.2077785
              {txt}rho {c |} {res} .43450447{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}11.73{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0711{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0451{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0239{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}11{txt},{res}4784{txt}){col 67}={col 70}{res}    33.28
{txt}corr(u_i, Xb){col 16}= {res}-0.6905{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.0512374{col 31}{space 2} .0233633{col 42}{space 1}   -2.19{col 51}{space 3}0.028{col 59}{space 4}-.0970403{col 72}{space 3}-.0054345
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0979625{col 31}{space 2} .0689797{col 42}{space 1}    1.42{col 51}{space 3}0.156{col 59}{space 4}-.0372695{col 72}{space 3} .2331944
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4100407{col 31}{space 2} .1028673{col 42}{space 1}    3.99{col 51}{space 3}0.000{col 59}{space 4} .2083735{col 72}{space 3} .6117078
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .156664{col 31}{space 2} .0332424{col 42}{space 1}    4.71{col 51}{space 3}0.000{col 59}{space 4} .0914937{col 72}{space 3} .2218343
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4149427{col 31}{space 2} .0785807{col 42}{space 1}   -5.28{col 51}{space 3}0.000{col 59}{space 4} -.568997{col 72}{space 3}-.2608884
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001136{col 31}{space 2} .0000314{col 42}{space 1}    3.62{col 51}{space 3}0.000{col 59}{space 4} .0000521{col 72}{space 3} .0001752
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0107408{col 31}{space 2} .0009534{col 42}{space 1}  -11.27{col 51}{space 3}0.000{col 59}{space 4}-.0126098{col 72}{space 3}-.0088718
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0962497{col 31}{space 2} .0204867{col 42}{space 1}    4.70{col 51}{space 3}0.000{col 59}{space 4} .0560863{col 72}{space 3} .1364131
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0040252{col 31}{space 2} .0009667{col 42}{space 1}   -4.16{col 51}{space 3}0.000{col 59}{space 4}-.0059204{col 72}{space 3}  -.00213
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .016339{col 31}{space 2}  .003377{col 42}{space 1}    4.84{col 51}{space 3}0.000{col 59}{space 4} .0097186{col 72}{space 3} .0229594
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0084795{col 31}{space 2}  .002973{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .0026511{col 72}{space 3} .0143079
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-14.71861{col 31}{space 2} 5.634554{col 42}{space 1}   -2.61{col 51}{space 3}0.009{col 59}{space 4}-25.76493{col 72}{space 3}-3.672296
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0530182
          {txt}sigma_e {c |} {res} 1.2083297
              {txt}rho {c |} {res} .43164151{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4784{txt}) = {res}11.70{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. *Table 2
. xtreg is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0707{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0473{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0248{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    30.34
{txt}corr(u_i, Xb){col 16}= {res}-0.6807{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0340635{col 31}{space 2} .0201172{col 42}{space 1}   -1.69{col 51}{space 3}0.090{col 59}{space 4}-.0735024{col 72}{space 3} .0053755
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0008539{col 31}{space 2} .0005354{col 42}{space 1}    1.60{col 51}{space 3}0.111{col 59}{space 4}-.0001956{col 72}{space 3} .0019035
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0877741{col 31}{space 2} .0691482{col 42}{space 1}    1.27{col 51}{space 3}0.204{col 59}{space 4}-.0477881{col 72}{space 3} .2233363
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4080808{col 31}{space 2} .1030414{col 42}{space 1}    3.96{col 51}{space 3}0.000{col 59}{space 4} .2060723{col 72}{space 3} .6100894
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1593499{col 31}{space 2} .0332988{col 42}{space 1}    4.79{col 51}{space 3}0.000{col 59}{space 4} .0940689{col 72}{space 3} .2246309
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4026378{col 31}{space 2}   .07818{col 42}{space 1}   -5.15{col 51}{space 3}0.000{col 59}{space 4}-.5559065{col 72}{space 3} -.249369
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001121{col 31}{space 2} .0000315{col 42}{space 1}    3.56{col 51}{space 3}0.000{col 59}{space 4} .0000505{col 72}{space 3} .0001738
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0106925{col 31}{space 2} .0009559{col 42}{space 1}  -11.19{col 51}{space 3}0.000{col 59}{space 4}-.0125666{col 72}{space 3}-.0088185
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0947114{col 31}{space 2} .0204783{col 42}{space 1}    4.62{col 51}{space 3}0.000{col 59}{space 4} .0545645{col 72}{space 3} .1348583
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0039507{col 31}{space 2} .0009666{col 42}{space 1}   -4.09{col 51}{space 3}0.000{col 59}{space 4}-.0058457{col 72}{space 3}-.0020557
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0167233{col 31}{space 2} .0033772{col 42}{space 1}    4.95{col 51}{space 3}0.000{col 59}{space 4} .0101025{col 72}{space 3} .0233441
{txt}{space 12}trend {c |}{col 19}{res}{space 2}  .007738{col 31}{space 2} .0029578{col 42}{space 1}    2.62{col 51}{space 3}0.009{col 59}{space 4} .0019393{col 72}{space 3} .0135366
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-13.35025{col 31}{space 2} 5.617362{col 42}{space 1}   -2.38{col 51}{space 3}0.018{col 59}{space 4}-24.36287{col 72}{space 3}-2.337639
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0387142
          {txt}sigma_e {c |} {res} 1.2086887
              {txt}rho {c |} {res} .42479863{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}11.68{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth postpkdummyyears postpkdummyyearsq  lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0817{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0359{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0232{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    35.45
{txt}corr(u_i, Xb){col 16}= {res}-0.7269{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0420514{col 31}{space 2} .0056087{col 42}{space 1}    7.50{col 51}{space 3}0.000{col 59}{space 4} .0310558{col 72}{space 3}  .053047
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0005912{col 31}{space 2} .0001074{col 42}{space 1}   -5.50{col 51}{space 3}0.000{col 59}{space 4}-.0008018{col 72}{space 3}-.0003807
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0755089{col 31}{space 2} .0686696{col 42}{space 1}    1.10{col 51}{space 3}0.272{col 59}{space 4}-.0591151{col 72}{space 3}  .210133
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3191582{col 31}{space 2} .1032815{col 42}{space 1}    3.09{col 51}{space 3}0.002{col 59}{space 4}  .116679{col 72}{space 3} .5216374
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1444048{col 31}{space 2} .0330961{col 42}{space 1}    4.36{col 51}{space 3}0.000{col 59}{space 4} .0795211{col 72}{space 3} .2092884
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4823758{col 31}{space 2} .0786836{col 42}{space 1}   -6.13{col 51}{space 3}0.000{col 59}{space 4}-.6366318{col 72}{space 3}-.3281199
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001094{col 31}{space 2} .0000312{col 42}{space 1}    3.50{col 51}{space 3}0.000{col 59}{space 4} .0000482{col 72}{space 3} .0001706
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0105216{col 31}{space 2} .0009484{col 42}{space 1}  -11.09{col 51}{space 3}0.000{col 59}{space 4}-.0123809{col 72}{space 3}-.0086624
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .1053225{col 31}{space 2} .0203482{col 42}{space 1}    5.18{col 51}{space 3}0.000{col 59}{space 4} .0654307{col 72}{space 3} .1452143
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0043265{col 31}{space 2} .0009591{col 42}{space 1}   -4.51{col 51}{space 3}0.000{col 59}{space 4}-.0062067{col 72}{space 3}-.0024463
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0127909{col 31}{space 2}   .00339{col 42}{space 1}    3.77{col 51}{space 3}0.000{col 59}{space 4}  .006145{col 72}{space 3} .0194368
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0051908{col 31}{space 2} .0037508{col 42}{space 1}    1.38{col 51}{space 3}0.166{col 59}{space 4}-.0021625{col 72}{space 3} .0125441
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -8.14031{col 31}{space 2} 7.296256{col 42}{space 1}   -1.12{col 51}{space 3}0.265{col 59}{space 4}-22.44433{col 72}{space 3} 6.163707
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res}  1.126071
          {txt}sigma_e {c |} {res} 1.2015529
              {txt}rho {c |} {res} .46760531{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}12.12{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. *Figure 1
. xtreg is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0711{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0451{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0239{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}11{txt},{res}4784{txt}){col 67}={col 70}{res}    33.28
{txt}corr(u_i, Xb){col 16}= {res}-0.6905{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.0512374{col 31}{space 2} .0233633{col 42}{space 1}   -2.19{col 51}{space 3}0.028{col 59}{space 4}-.0970403{col 72}{space 3}-.0054345
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0979625{col 31}{space 2} .0689797{col 42}{space 1}    1.42{col 51}{space 3}0.156{col 59}{space 4}-.0372695{col 72}{space 3} .2331944
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4100407{col 31}{space 2} .1028673{col 42}{space 1}    3.99{col 51}{space 3}0.000{col 59}{space 4} .2083735{col 72}{space 3} .6117078
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .156664{col 31}{space 2} .0332424{col 42}{space 1}    4.71{col 51}{space 3}0.000{col 59}{space 4} .0914937{col 72}{space 3} .2218343
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4149427{col 31}{space 2} .0785807{col 42}{space 1}   -5.28{col 51}{space 3}0.000{col 59}{space 4} -.568997{col 72}{space 3}-.2608884
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001136{col 31}{space 2} .0000314{col 42}{space 1}    3.62{col 51}{space 3}0.000{col 59}{space 4} .0000521{col 72}{space 3} .0001752
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0107408{col 31}{space 2} .0009534{col 42}{space 1}  -11.27{col 51}{space 3}0.000{col 59}{space 4}-.0126098{col 72}{space 3}-.0088718
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0962497{col 31}{space 2} .0204867{col 42}{space 1}    4.70{col 51}{space 3}0.000{col 59}{space 4} .0560863{col 72}{space 3} .1364131
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0040252{col 31}{space 2} .0009667{col 42}{space 1}   -4.16{col 51}{space 3}0.000{col 59}{space 4}-.0059204{col 72}{space 3}  -.00213
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .016339{col 31}{space 2}  .003377{col 42}{space 1}    4.84{col 51}{space 3}0.000{col 59}{space 4} .0097186{col 72}{space 3} .0229594
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0084795{col 31}{space 2}  .002973{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .0026511{col 72}{space 3} .0143079
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-14.71861{col 31}{space 2} 5.634554{col 42}{space 1}   -2.61{col 51}{space 3}0.009{col 59}{space 4}-25.76493{col 72}{space 3}-3.672296
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0530182
          {txt}sigma_e {c |} {res} 1.2083297
              {txt}rho {c |} {res} .43164151{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4784{txt}) = {res}11.70{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. margins, at((mean) _all lagpriominorconflict=0 lagpriomajorconflict=0 lnbconflict=0 llPKObudget=(0(1)7))
{res}
{txt}Adjusted predictions{col 49}Number of obs{col 67}= {res}     4,940
{txt}Model VCE{col 14}: {res}Conventional

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:Linear prediction, predict()}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}2}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}3}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}4}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}6}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:llPKObudget}{space 5}{txt:=} {space 10}7}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}     Margin{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2}-.9380683{col 26}{space 2}  .030421{col 37}{space 1}  -30.84{col 46}{space 3}0.000{col 54}{space 4}-.9976925{col 67}{space 3}-.8784442
{txt}{space 10}2  {c |}{col 14}{res}{space 2}-.9893057{col 26}{space 2} .0355567{col 37}{space 1}  -27.82{col 46}{space 3}0.000{col 54}{space 4}-1.058996{col 67}{space 3}-.9196158
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-1.040543{col 26}{space 2} .0519116{col 37}{space 1}  -20.04{col 46}{space 3}0.000{col 54}{space 4}-1.142288{col 67}{space 3}-.9387984
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-1.091781{col 26}{space 2}  .072229{col 37}{space 1}  -15.12{col 46}{space 3}0.000{col 54}{space 4}-1.233347{col 67}{space 3}-.9502143
{txt}{space 10}5  {c |}{col 14}{res}{space 2}-1.143018{col 26}{space 2} .0939731{col 37}{space 1}  -12.16{col 46}{space 3}0.000{col 54}{space 4}-1.327202{col 67}{space 3}-.9588341
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-1.194255{col 26}{space 2} .1163467{col 37}{space 1}  -10.26{col 46}{space 3}0.000{col 54}{space 4}-1.422291{col 67}{space 3}-.9662201
{txt}{space 10}7  {c |}{col 14}{res}{space 2}-1.245493{col 26}{space 2} .1390462{col 37}{space 1}   -8.96{col 46}{space 3}0.000{col 54}{space 4}-1.518019{col 67}{space 3}-.9729673
{txt}{space 10}8  {c |}{col 14}{res}{space 2} -1.29673{col 26}{space 2} .1619347{col 37}{space 1}   -8.01{col 46}{space 3}0.000{col 54}{space 4}-1.614117{col 67}{space 3}-.9793442
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}.  
. *Figure 2
. xtreg is100growth c.lpkyears##c.lpkyears  lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0707{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0473{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0248{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    30.34
{txt}corr(u_i, Xb){col 16}= {res}-0.6807{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0340635{col 31}{space 2} .0201172{col 42}{space 1}   -1.69{col 51}{space 3}0.090{col 59}{space 4}-.0735024{col 72}{space 3} .0053755
{txt}{space 17} {c |}
{space 7}c.lpkyears#{c |}
{space 7}c.lpkyears {c |}{col 19}{res}{space 2} .0008539{col 31}{space 2} .0005354{col 42}{space 1}    1.60{col 51}{space 3}0.111{col 59}{space 4}-.0001956{col 72}{space 3} .0019035
{txt}{space 17} {c |}
lagpriominorcon~t {c |}{col 19}{res}{space 2} .0877741{col 31}{space 2} .0691482{col 42}{space 1}    1.27{col 51}{space 3}0.204{col 59}{space 4}-.0477881{col 72}{space 3} .2233363
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4080808{col 31}{space 2} .1030414{col 42}{space 1}    3.96{col 51}{space 3}0.000{col 59}{space 4} .2060723{col 72}{space 3} .6100894
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1593499{col 31}{space 2} .0332988{col 42}{space 1}    4.79{col 51}{space 3}0.000{col 59}{space 4} .0940689{col 72}{space 3} .2246309
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4026378{col 31}{space 2}   .07818{col 42}{space 1}   -5.15{col 51}{space 3}0.000{col 59}{space 4}-.5559065{col 72}{space 3} -.249369
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001121{col 31}{space 2} .0000315{col 42}{space 1}    3.56{col 51}{space 3}0.000{col 59}{space 4} .0000505{col 72}{space 3} .0001738
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0106925{col 31}{space 2} .0009559{col 42}{space 1}  -11.19{col 51}{space 3}0.000{col 59}{space 4}-.0125666{col 72}{space 3}-.0088185
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0947114{col 31}{space 2} .0204783{col 42}{space 1}    4.62{col 51}{space 3}0.000{col 59}{space 4} .0545645{col 72}{space 3} .1348583
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0039507{col 31}{space 2} .0009666{col 42}{space 1}   -4.09{col 51}{space 3}0.000{col 59}{space 4}-.0058457{col 72}{space 3}-.0020557
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0167233{col 31}{space 2} .0033772{col 42}{space 1}    4.95{col 51}{space 3}0.000{col 59}{space 4} .0101025{col 72}{space 3} .0233441
{txt}{space 12}trend {c |}{col 19}{res}{space 2}  .007738{col 31}{space 2} .0029578{col 42}{space 1}    2.62{col 51}{space 3}0.009{col 59}{space 4} .0019393{col 72}{space 3} .0135366
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-13.35025{col 31}{space 2} 5.617362{col 42}{space 1}   -2.38{col 51}{space 3}0.018{col 59}{space 4}-24.36287{col 72}{space 3}-2.337639
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0387142
          {txt}sigma_e {c |} {res} 1.2086887
              {txt}rho {c |} {res} .42479863{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}11.68{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. margins, at((mean) _all lagpriominorconflict=0 lagpriomajorconflict=0 lnbconflict=0 lpkyears=(0(5)40))
{res}
{txt}Adjusted predictions{col 49}Number of obs{col 67}= {res}     4,940
{txt}Model VCE{col 14}: {res}Conventional

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:Linear prediction, predict()}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}10}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}15}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}20}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}25}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}30}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}35}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:9._at}:{space 1}{res:{txt:lpkyears}{space 8}{txt:=} {space 9}40}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}     Margin{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2}-.9397345{col 26}{space 2} .0307895{col 37}{space 1}  -30.52{col 46}{space 3}0.000{col 54}{space 4}-1.000081{col 67}{space 3}-.8793881
{txt}{space 10}2  {c |}{col 14}{res}{space 2}-1.088703{col 26}{space 2} .0892191{col 37}{space 1}  -12.20{col 46}{space 3}0.000{col 54}{space 4}-1.263569{col 67}{space 3} -.913837
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-1.194974{col 26}{space 2} .1557161{col 37}{space 1}   -7.67{col 46}{space 3}0.000{col 54}{space 4}-1.500172{col 67}{space 3}-.8897766
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-1.258548{col 26}{space 2}  .206517{col 37}{space 1}   -6.09{col 46}{space 3}0.000{col 54}{space 4}-1.663314{col 67}{space 3}-.8537823
{txt}{space 10}5  {c |}{col 14}{res}{space 2}-1.279425{col 26}{space 2} .2455675{col 37}{space 1}   -5.21{col 46}{space 3}0.000{col 54}{space 4}-1.760728{col 67}{space 3}-.7981212
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-1.257603{col 26}{space 2} .2804403{col 37}{space 1}   -4.48{col 46}{space 3}0.000{col 54}{space 4}-1.807256{col 67}{space 3}-.7079505
{txt}{space 10}7  {c |}{col 14}{res}{space 2}-1.193085{col 26}{space 2} .3215827{col 37}{space 1}   -3.71{col 46}{space 3}0.000{col 54}{space 4}-1.823375{col 67}{space 3}-.5627944
{txt}{space 10}8  {c |}{col 14}{res}{space 2}-1.085869{col 26}{space 2} .3803213{col 37}{space 1}   -2.86{col 46}{space 3}0.004{col 54}{space 4}-1.831285{col 67}{space 3}-.3404527
{txt}{space 10}9  {c |}{col 14}{res}{space 2}-.9359553{col 26}{space 2} .4654755{col 37}{space 1}   -2.01{col 46}{space 3}0.044{col 54}{space 4}-1.848271{col 67}{space 3}-.0236401
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. *Figure 3
. xtreg is100growth c.postpkdummyyears##c.postpkdummyyears  lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0817{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0359{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0232{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    35.45
{txt}corr(u_i, Xb){col 16}= {res}-0.7269{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0420514{col 31}{space 2} .0056087{col 42}{space 1}    7.50{col 51}{space 3}0.000{col 59}{space 4} .0310558{col 72}{space 3}  .053047
{txt}{space 17} {c |}
{space 15}c. {c |}
{space 1}postpkdummyyears#{c |}
{space 15}c. {c |}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2}-.0005912{col 31}{space 2} .0001074{col 42}{space 1}   -5.50{col 51}{space 3}0.000{col 59}{space 4}-.0008018{col 72}{space 3}-.0003807
{txt}{space 17} {c |}
lagpriominorcon~t {c |}{col 19}{res}{space 2} .0755089{col 31}{space 2} .0686696{col 42}{space 1}    1.10{col 51}{space 3}0.272{col 59}{space 4}-.0591151{col 72}{space 3}  .210133
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3191582{col 31}{space 2} .1032815{col 42}{space 1}    3.09{col 51}{space 3}0.002{col 59}{space 4}  .116679{col 72}{space 3} .5216374
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1444048{col 31}{space 2} .0330961{col 42}{space 1}    4.36{col 51}{space 3}0.000{col 59}{space 4} .0795211{col 72}{space 3} .2092884
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4823758{col 31}{space 2} .0786836{col 42}{space 1}   -6.13{col 51}{space 3}0.000{col 59}{space 4}-.6366318{col 72}{space 3}-.3281199
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001094{col 31}{space 2} .0000312{col 42}{space 1}    3.50{col 51}{space 3}0.000{col 59}{space 4} .0000482{col 72}{space 3} .0001706
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0105216{col 31}{space 2} .0009484{col 42}{space 1}  -11.09{col 51}{space 3}0.000{col 59}{space 4}-.0123809{col 72}{space 3}-.0086624
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .1053225{col 31}{space 2} .0203482{col 42}{space 1}    5.18{col 51}{space 3}0.000{col 59}{space 4} .0654307{col 72}{space 3} .1452143
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0043265{col 31}{space 2} .0009591{col 42}{space 1}   -4.51{col 51}{space 3}0.000{col 59}{space 4}-.0062067{col 72}{space 3}-.0024463
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0127909{col 31}{space 2}   .00339{col 42}{space 1}    3.77{col 51}{space 3}0.000{col 59}{space 4}  .006145{col 72}{space 3} .0194368
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0051908{col 31}{space 2} .0037508{col 42}{space 1}    1.38{col 51}{space 3}0.166{col 59}{space 4}-.0021625{col 72}{space 3} .0125441
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -8.14031{col 31}{space 2} 7.296256{col 42}{space 1}   -1.12{col 51}{space 3}0.265{col 59}{space 4}-22.44433{col 72}{space 3} 6.163707
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res}  1.126071
          {txt}sigma_e {c |} {res} 1.2015529
              {txt}rho {c |} {res} .46760531{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}12.12{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. margins, at((mean) _all lagpriominorconflict=0 lagpriomajorconflict=0 lnbconflict=0 postpkdummyyears=(0(5)40))
{res}
{txt}Adjusted predictions{col 49}Number of obs{col 67}= {res}     4,940
{txt}Model VCE{col 14}: {res}Conventional

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:Linear prediction, predict()}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}10}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}15}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}20}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}25}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}30}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}35}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:9._at}:{space 1}{res:{txt:postpkdumm~s}{space 4}{txt:=} {space 9}40}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomin~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpriomaj~t}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lnbconflict}{space 5}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laggdplog}{space 7}{txt:=} {space 3}7.788166 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:laginflation}{space 4}{txt:=} {space 3}48.92882 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagtrade}{space 8}{txt:=} {space 3}74.04613 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity20}{space 5}{txt:=} {space 3}11.91559 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lagpolity2~d}{space 4}{txt:=} {space 3}194.4824 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:lsecondary}{space 6}{txt:=} {space 3}32.73548 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:trend}{space 11}{txt:=} {space 3}1993.411 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}     Margin{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2}-1.491164{col 26}{space 2} .0805115{col 37}{space 1}  -18.52{col 46}{space 3}0.000{col 54}{space 4}-1.648963{col 67}{space 3}-1.333364
{txt}{space 10}2  {c |}{col 14}{res}{space 2}-1.295688{col 26}{space 2} .0621979{col 37}{space 1}  -20.83{col 46}{space 3}0.000{col 54}{space 4}-1.417593{col 67}{space 3}-1.173782
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-1.129774{col 26}{space 2} .0498873{col 37}{space 1}  -22.65{col 46}{space 3}0.000{col 54}{space 4}-1.227551{col 67}{space 3}-1.031996
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-.9934213{col 26}{space 2} .0426745{col 37}{space 1}  -23.28{col 46}{space 3}0.000{col 54}{space 4}-1.077062{col 67}{space 3}-.9097808
{txt}{space 10}5  {c |}{col 14}{res}{space 2} -.886631{col 26}{space 2} .0389524{col 37}{space 1}  -22.76{col 46}{space 3}0.000{col 54}{space 4}-.9629764{col 67}{space 3}-.8102856
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-.8094026{col 26}{space 2} .0374424{col 37}{space 1}  -21.62{col 46}{space 3}0.000{col 54}{space 4}-.8827884{col 67}{space 3}-.7360167
{txt}{space 10}7  {c |}{col 14}{res}{space 2} -.761736{col 26}{space 2} .0383768{col 37}{space 1}  -19.85{col 46}{space 3}0.000{col 54}{space 4}-.8369531{col 67}{space 3}-.6865189
{txt}{space 10}8  {c |}{col 14}{res}{space 2}-.7436313{col 26}{space 2} .0435961{col 37}{space 1}  -17.06{col 46}{space 3}0.000{col 54}{space 4} -.829078{col 67}{space 3}-.6581846
{txt}{space 10}9  {c |}{col 14}{res}{space 2}-.7550885{col 26}{space 2} .0550393{col 37}{space 1}  -13.72{col 46}{space 3}0.000{col 54}{space 4}-.8629636{col 67}{space 3}-.6472135
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
. 
. ****APPENDIX MODELS*****
. 
. *Table A1
. xtabond2 is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4940
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}195{col 49}{txt}Obs per group: min = {res}      389
{txt}Wald chi2({res}11{txt}){col 15}= {res}    53.99{col 64}{txt}avg = {res}    34.07
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      389
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.8485782{col 31}{space 2} .4989376{col 42}{space 1}   -1.70{col 51}{space 3}0.089{col 59}{space 4}-1.826478{col 72}{space 3} .1293215
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .5690217{col 31}{space 2} .2625669{col 42}{space 1}    2.17{col 51}{space 3}0.030{col 59}{space 4}    .0544{col 72}{space 3} 1.083643
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.714925{col 31}{space 2} .4437534{col 42}{space 1}    3.86{col 51}{space 3}0.000{col 59}{space 4} .8451847{col 72}{space 3} 2.584666
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1829274{col 31}{space 2} .1099863{col 42}{space 1}    1.66{col 51}{space 3}0.096{col 59}{space 4}-.0326417{col 72}{space 3} .3984965
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0178748{col 31}{space 2} .0534792{col 42}{space 1}   -0.33{col 51}{space 3}0.738{col 59}{space 4}-.1226921{col 72}{space 3} .0869424
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001321{col 31}{space 2} .0000421{col 42}{space 1}    3.14{col 51}{space 3}0.002{col 59}{space 4} .0000496{col 72}{space 3} .0002147
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0028876{col 31}{space 2} .0027632{col 42}{space 1}   -1.05{col 51}{space 3}0.296{col 59}{space 4}-.0083033{col 72}{space 3} .0025282
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0365534{col 31}{space 2} .0481425{col 42}{space 1}    0.76{col 51}{space 3}0.448{col 59}{space 4}-.0578042{col 72}{space 3} .1309111
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.000883{col 31}{space 2} .0022151{col 42}{space 1}   -0.40{col 51}{space 3}0.690{col 59}{space 4}-.0052245{col 72}{space 3} .0034586
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0067824{col 31}{space 2} .0048876{col 42}{space 1}    1.39{col 51}{space 3}0.165{col 59}{space 4}-.0027972{col 72}{space 3}  .016362
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0011916{col 31}{space 2} .0059301{col 42}{space 1}    0.20{col 51}{space 3}0.841{col 59}{space 4}-.0104311{col 72}{space 3} .0128144
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-3.537684{col 31}{space 2} 11.70587{col 42}{space 1}   -0.30{col 51}{space 3}0.762{col 59}{space 4}-26.48077{col 72}{space 3} 19.40541
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.87{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.52{txt}  Pr > z = {res} 0.012
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}183{txt}){col 49}={res}3031.34{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}183{txt}){col 49}={res} 139.70{txt}{col 59}Prob > chi2 = {res} 0.993
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}187{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.637
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.538

{txt}
{com}. xtabond2 is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4940
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}218{col 49}{txt}Obs per group: min = {res}      420
{txt}Wald chi2({res}12{txt}){col 15}= {res}    50.03{col 64}{txt}avg = {res}    34.07
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      420
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}  .103973{col 31}{space 2} .5238292{col 42}{space 1}    0.20{col 51}{space 3}0.843{col 59}{space 4}-.9227135{col 72}{space 3} 1.130659
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2} -1.91473{col 31}{space 2} .8781962{col 42}{space 1}   -2.18{col 51}{space 3}0.029{col 59}{space 4}-3.635963{col 72}{space 3}-.1934974
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .6224366{col 31}{space 2} .2345699{col 42}{space 1}    2.65{col 51}{space 3}0.008{col 59}{space 4}  .162688{col 72}{space 3} 1.082185
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.587323{col 31}{space 2} .4246467{col 42}{space 1}    3.74{col 51}{space 3}0.000{col 59}{space 4} .7550311{col 72}{space 3} 2.419615
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .144578{col 31}{space 2} .1064552{col 42}{space 1}    1.36{col 51}{space 3}0.174{col 59}{space 4}-.0640704{col 72}{space 3} .3532264
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0339363{col 31}{space 2} .0553208{col 42}{space 1}   -0.61{col 51}{space 3}0.540{col 59}{space 4}-.1423632{col 72}{space 3} .0744905
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001103{col 31}{space 2} .0000467{col 42}{space 1}    2.36{col 51}{space 3}0.018{col 59}{space 4} .0000187{col 72}{space 3} .0002019
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0028395{col 31}{space 2} .0026525{col 42}{space 1}   -1.07{col 51}{space 3}0.284{col 59}{space 4}-.0080383{col 72}{space 3} .0023593
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0465682{col 31}{space 2} .0468887{col 42}{space 1}    0.99{col 51}{space 3}0.321{col 59}{space 4} -.045332{col 72}{space 3} .1384684
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0012849{col 31}{space 2} .0021793{col 42}{space 1}   -0.59{col 51}{space 3}0.555{col 59}{space 4}-.0055563{col 72}{space 3} .0029864
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .006325{col 31}{space 2} .0050832{col 42}{space 1}    1.24{col 51}{space 3}0.213{col 59}{space 4}-.0036379{col 72}{space 3} .0162879
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0021283{col 31}{space 2} .0061768{col 42}{space 1}    0.34{col 51}{space 3}0.730{col 59}{space 4}-.0099781{col 72}{space 3} .0142347
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-5.298007{col 31}{space 2}  12.1521{col 42}{space 1}   -0.44{col 51}{space 3}0.663{col 59}{space 4}-29.11569{col 72}{space 3} 18.51967
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.87{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.53{txt}  Pr > z = {res} 0.011
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}205{txt}){col 49}={res}3098.72{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}205{txt}){col 49}={res} 141.12{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}210{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.659
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.534

{txt}
{com}. xtabond2 is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4940
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}207{col 49}{txt}Obs per group: min = {res}      402
{txt}Wald chi2({res}11{txt}){col 15}= {res}    64.28{col 64}{txt}avg = {res}    34.07
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      402
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.2922434{col 31}{space 2} .1000078{col 42}{space 1}   -2.92{col 51}{space 3}0.003{col 59}{space 4} -.488255{col 72}{space 3}-.0962318
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .5926673{col 31}{space 2} .2638329{col 42}{space 1}    2.25{col 51}{space 3}0.025{col 59}{space 4} .0755643{col 72}{space 3}  1.10977
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.023206{col 31}{space 2}   .48369{col 42}{space 1}    4.18{col 51}{space 3}0.000{col 59}{space 4} 1.075191{col 72}{space 3} 2.971221
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .0930032{col 31}{space 2} .1096059{col 42}{space 1}    0.85{col 51}{space 3}0.396{col 59}{space 4}-.1218204{col 72}{space 3} .3078268
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0285103{col 31}{space 2} .0551695{col 42}{space 1}   -0.52{col 51}{space 3}0.605{col 59}{space 4}-.1366406{col 72}{space 3}   .07962
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}  .000126{col 31}{space 2} .0000433{col 42}{space 1}    2.91{col 51}{space 3}0.004{col 59}{space 4} .0000411{col 72}{space 3}  .000211
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0028903{col 31}{space 2} .0027747{col 42}{space 1}   -1.04{col 51}{space 3}0.298{col 59}{space 4}-.0083286{col 72}{space 3}  .002548
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0381642{col 31}{space 2} .0492242{col 42}{space 1}    0.78{col 51}{space 3}0.438{col 59}{space 4}-.0583135{col 72}{space 3} .1346419
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0009903{col 31}{space 2} .0022741{col 42}{space 1}   -0.44{col 51}{space 3}0.663{col 59}{space 4}-.0054475{col 72}{space 3} .0034669
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0053343{col 31}{space 2} .0049006{col 42}{space 1}    1.09{col 51}{space 3}0.276{col 59}{space 4}-.0042706{col 72}{space 3} .0149392
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0047432{col 31}{space 2} .0062228{col 42}{space 1}    0.76{col 51}{space 3}0.446{col 59}{space 4}-.0074533{col 72}{space 3} .0169398
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -10.4298{col 31}{space 2} 12.22667{col 42}{space 1}   -0.85{col 51}{space 3}0.394{col 59}{space 4}-34.39363{col 72}{space 3} 13.53404
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.42{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.81{txt}  Pr > z = {res} 0.005
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}195{txt}){col 49}={res}2757.84{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}195{txt}){col 49}={res} 140.29{txt}{col 59}Prob > chi2 = {res} 0.999
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}199{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.652
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.539

{txt}
{com}. 
. *Table A2
. xtabond2 is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4940
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}239{col 49}{txt}Obs per group: min = {res}      477
{txt}Wald chi2({res}12{txt}){col 15}= {res}    49.61{col 64}{txt}avg = {res}    34.07
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      477
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0191378{col 31}{space 2} .0359925{col 42}{space 1}   -0.53{col 51}{space 3}0.595{col 59}{space 4}-.0896818{col 72}{space 3} .0514062
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0008529{col 31}{space 2} .0009899{col 42}{space 1}    0.86{col 51}{space 3}0.389{col 59}{space 4}-.0010874{col 72}{space 3} .0027931
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .4757579{col 31}{space 2} .2448426{col 42}{space 1}    1.94{col 51}{space 3}0.052{col 59}{space 4}-.0041248{col 72}{space 3} .9556407
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.233274{col 31}{space 2} .4861482{col 42}{space 1}    4.59{col 51}{space 3}0.000{col 59}{space 4} 1.280441{col 72}{space 3} 3.186107
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .0382456{col 31}{space 2} .1149923{col 42}{space 1}    0.33{col 51}{space 3}0.739{col 59}{space 4}-.1871352{col 72}{space 3} .2636264
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0293221{col 31}{space 2} .0536411{col 42}{space 1}   -0.55{col 51}{space 3}0.585{col 59}{space 4}-.1344567{col 72}{space 3} .0758126
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001075{col 31}{space 2} .0000519{col 42}{space 1}    2.07{col 51}{space 3}0.038{col 59}{space 4} 5.78e-06{col 72}{space 3} .0002092
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0029194{col 31}{space 2} .0027313{col 42}{space 1}   -1.07{col 51}{space 3}0.285{col 59}{space 4}-.0082726{col 72}{space 3} .0024338
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0334274{col 31}{space 2} .0456701{col 42}{space 1}    0.73{col 51}{space 3}0.464{col 59}{space 4}-.0560845{col 72}{space 3} .1229392
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0008912{col 31}{space 2} .0021232{col 42}{space 1}   -0.42{col 51}{space 3}0.675{col 59}{space 4}-.0050526{col 72}{space 3} .0032701
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .007653{col 31}{space 2} .0047968{col 42}{space 1}    1.60{col 51}{space 3}0.111{col 59}{space 4}-.0017484{col 72}{space 3} .0170545
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0001378{col 31}{space 2} .0062378{col 42}{space 1}    0.02{col 51}{space 3}0.982{col 59}{space 4} -.012088{col 72}{space 3} .0123636
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-1.301867{col 31}{space 2} 12.25482{col 42}{space 1}   -0.11{col 51}{space 3}0.915{col 59}{space 4}-25.32087{col 72}{space 3} 22.71714
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.03{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.86{txt}  Pr > z = {res} 0.004
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}226{txt}){col 49}={res}2912.05{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}226{txt}){col 49}={res} 143.41{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}231{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.731
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.503

{txt}
{com}. xtabond2 is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4940
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}198{col 49}{txt}Obs per group: min = {res}      493
{txt}Wald chi2({res}12{txt}){col 15}= {res}    54.41{col 64}{txt}avg = {res}    34.07
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      493
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0348247{col 31}{space 2} .0177021{col 42}{space 1}    1.97{col 51}{space 3}0.049{col 59}{space 4} .0001293{col 72}{space 3} .0695201
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0006293{col 31}{space 2} .0003386{col 42}{space 1}   -1.86{col 51}{space 3}0.063{col 59}{space 4} -.001293{col 72}{space 3} .0000344
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .9925287{col 31}{space 2} .3391957{col 42}{space 1}    2.93{col 51}{space 3}0.003{col 59}{space 4} .3277174{col 72}{space 3}  1.65734
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.175123{col 31}{space 2} .5961012{col 42}{space 1}    3.65{col 51}{space 3}0.000{col 59}{space 4} 1.006786{col 72}{space 3}  3.34346
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .6644539{col 31}{space 2} .1945487{col 42}{space 1}    3.42{col 51}{space 3}0.001{col 59}{space 4} .2831455{col 72}{space 3} 1.045762
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0276842{col 31}{space 2} .0662282{col 42}{space 1}    0.42{col 51}{space 3}0.676{col 59}{space 4}-.1021207{col 72}{space 3} .1574892
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000757{col 31}{space 2} .0000614{col 42}{space 1}    1.23{col 51}{space 3}0.217{col 59}{space 4}-.0000446{col 72}{space 3} .0001959
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0015374{col 31}{space 2} .0026719{col 42}{space 1}   -0.58{col 51}{space 3}0.565{col 59}{space 4}-.0067742{col 72}{space 3} .0036993
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0130543{col 31}{space 2} .0512967{col 42}{space 1}    0.25{col 51}{space 3}0.799{col 59}{space 4}-.0874853{col 72}{space 3}  .113594
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0005695{col 31}{space 2} .0024166{col 42}{space 1}    0.24{col 51}{space 3}0.814{col 59}{space 4}-.0041669{col 72}{space 3}  .005306
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0092476{col 31}{space 2} .0058898{col 42}{space 1}    1.57{col 51}{space 3}0.116{col 59}{space 4}-.0022962{col 72}{space 3} .0207913
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0014373{col 31}{space 2} .0100341{col 42}{space 1}   -0.14{col 51}{space 3}0.886{col 59}{space 4}-.0211038{col 72}{space 3} .0182293
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} .3676679{col 31}{space 2} 19.83611{col 42}{space 1}    0.02{col 51}{space 3}0.985{col 59}{space 4} -38.5104{col 72}{space 3} 39.24574
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.38{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.59{txt}  Pr > z = {res} 0.010
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}185{txt}){col 49}={res}2001.12{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}185{txt}){col 49}={res} 142.36{txt}{col 59}Prob > chi2 = {res} 0.991
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}190{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.689
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.590

{txt}
{com}. 
. *Table A3
. xtabond2 medschneidergrowth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(medschneidergrowth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.

Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     2762
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      140
{txt}Number of instruments = {res}98{col 49}{txt}Obs per group: min = {res}      199
{txt}Wald chi2({res}11{txt}){col 15}= {res}    40.08{col 64}{txt}avg = {res}    19.73
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      199
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}medschneidergro~h{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-4.594836{col 31}{space 2} 1.973249{col 42}{space 1}   -2.33{col 51}{space 3}0.020{col 59}{space 4}-8.462333{col 72}{space 3}  -.72734
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} 3.777603{col 31}{space 2} 1.380443{col 42}{space 1}    2.74{col 51}{space 3}0.006{col 59}{space 4} 1.071984{col 72}{space 3} 6.483222
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 4.390305{col 31}{space 2} 2.185631{col 42}{space 1}    2.01{col 51}{space 3}0.045{col 59}{space 4}  .106546{col 72}{space 3} 8.674064
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} 1.555568{col 31}{space 2} .4998085{col 42}{space 1}    3.11{col 51}{space 3}0.002{col 59}{space 4} .5759609{col 72}{space 3} 2.535174
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .1881016{col 31}{space 2} .1875526{col 42}{space 1}    1.00{col 51}{space 3}0.316{col 59}{space 4}-.1794947{col 72}{space 3} .5556979
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001232{col 31}{space 2} .0001555{col 42}{space 1}    0.79{col 51}{space 3}0.428{col 59}{space 4}-.0001816{col 72}{space 3}  .000428
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} .0098749{col 31}{space 2} .0042548{col 42}{space 1}    2.32{col 51}{space 3}0.020{col 59}{space 4} .0015357{col 72}{space 3} .0182141
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} -.041373{col 31}{space 2} .1565304{col 42}{space 1}   -0.26{col 51}{space 3}0.792{col 59}{space 4} -.348167{col 72}{space 3}  .265421
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0039051{col 31}{space 2} .0075729{col 42}{space 1}    0.52{col 51}{space 3}0.606{col 59}{space 4}-.0109375{col 72}{space 3} .0187478
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} -.015207{col 31}{space 2} .0110212{col 42}{space 1}   -1.38{col 51}{space 3}0.168{col 59}{space 4}-.0368081{col 72}{space 3} .0063941
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0318942{col 31}{space 2} .0213024{col 42}{space 1}   -1.50{col 51}{space 3}0.134{col 59}{space 4}-.0736461{col 72}{space 3} .0098577
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}  59.5615{col 31}{space 2} 42.47015{col 42}{space 1}    1.40{col 51}{space 3}0.161{col 59}{space 4}-23.67846{col 72}{space 3} 142.8015
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(medschneidergrowth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(medschneidergrowth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.80{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  0.16{txt}  Pr > z = {res} 0.875
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}86{txt}){col 49}={res}2229.51{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}86{txt}){col 49}={res} 127.51{txt}{col 59}Prob > chi2 = {res} 0.002
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}90{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.602
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.531

{txt}
{com}. xtabond2 medschneidergrowth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(medschneidergrowth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.

Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     2762
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      140
{txt}Number of instruments = {res}123{col 49}{txt}Obs per group: min = {res}      229
{txt}Wald chi2({res}12{txt}){col 15}= {res}    48.31{col 64}{txt}avg = {res}    19.73
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      229
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}medschneidergro~h{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}-3.125929{col 31}{space 2} 2.338183{col 42}{space 1}   -1.34{col 51}{space 3}0.181{col 59}{space 4}-7.708684{col 72}{space 3} 1.456826
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-3.267533{col 31}{space 2} 1.804164{col 42}{space 1}   -1.81{col 51}{space 3}0.070{col 59}{space 4} -6.80363{col 72}{space 3} .2685638
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} 2.424088{col 31}{space 2} 1.321001{col 42}{space 1}    1.84{col 51}{space 3}0.066{col 59}{space 4}-.1650267{col 72}{space 3} 5.013203
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.827581{col 31}{space 2} 1.754317{col 42}{space 1}    1.61{col 51}{space 3}0.107{col 59}{space 4}-.6108162{col 72}{space 3} 6.265979
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} 1.179411{col 31}{space 2} .3914503{col 42}{space 1}    3.01{col 51}{space 3}0.003{col 59}{space 4} .4121831{col 72}{space 3}  1.94664
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .1736193{col 31}{space 2} .1356069{col 42}{space 1}    1.28{col 51}{space 3}0.200{col 59}{space 4}-.0921653{col 72}{space 3} .4394039
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001721{col 31}{space 2} .0001754{col 42}{space 1}    0.98{col 51}{space 3}0.326{col 59}{space 4}-.0001717{col 72}{space 3} .0005159
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}  .007018{col 31}{space 2} .0032045{col 42}{space 1}    2.19{col 51}{space 3}0.029{col 59}{space 4} .0007373{col 72}{space 3} .0132987
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0153668{col 31}{space 2} .1244518{col 42}{space 1}    0.12{col 51}{space 3}0.902{col 59}{space 4}-.2285542{col 72}{space 3} .2592879
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0005378{col 31}{space 2} .0058281{col 42}{space 1}    0.09{col 51}{space 3}0.926{col 59}{space 4}-.0108851{col 72}{space 3} .0119607
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}-.0135962{col 31}{space 2} .0087628{col 42}{space 1}   -1.55{col 51}{space 3}0.121{col 59}{space 4} -.030771{col 72}{space 3} .0035785
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0415409{col 31}{space 2} .0184689{col 42}{space 1}   -2.25{col 51}{space 3}0.024{col 59}{space 4}-.0777393{col 72}{space 3}-.0053426
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}  79.4926{col 31}{space 2} 36.81514{col 42}{space 1}    2.16{col 51}{space 3}0.031{col 59}{space 4} 7.336245{col 72}{space 3} 151.6489
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(medschneidergrowth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(medschneidergrowth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.79{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  0.18{txt}  Pr > z = {res} 0.856
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}110{txt}){col 49}={res}2307.75{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}110{txt}){col 49}={res} 133.86{txt}{col 59}Prob > chi2 = {res} 0.061
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}115{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.657
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.523

{txt}
{com}. xtabond2 medschneidergrowth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(medschneidergrowth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.

Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     2762
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      140
{txt}Number of instruments = {res}100{col 49}{txt}Obs per group: min = {res}      203
{txt}Wald chi2({res}11{txt}){col 15}= {res}    49.31{col 64}{txt}avg = {res}    19.73
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      203
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}medschneidergro~h{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.9390428{col 31}{space 2} .3303483{col 42}{space 1}   -2.84{col 51}{space 3}0.004{col 59}{space 4}-1.586514{col 72}{space 3} -.291572
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} 5.682324{col 31}{space 2} 1.892003{col 42}{space 1}    3.00{col 51}{space 3}0.003{col 59}{space 4} 1.974065{col 72}{space 3} 9.390582
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 5.004951{col 31}{space 2} 2.859437{col 42}{space 1}    1.75{col 51}{space 3}0.080{col 59}{space 4}-.5994431{col 72}{space 3} 10.60935
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} 1.966536{col 31}{space 2} .5293403{col 42}{space 1}    3.72{col 51}{space 3}0.000{col 59}{space 4} .9290478{col 72}{space 3} 3.004024
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .1911096{col 31}{space 2} .2467582{col 42}{space 1}    0.77{col 51}{space 3}0.439{col 59}{space 4}-.2925275{col 72}{space 3} .6747467
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000527{col 31}{space 2} .0001054{col 42}{space 1}    0.50{col 51}{space 3}0.617{col 59}{space 4}-.0001539{col 72}{space 3} .0002593
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}  .015178{col 31}{space 2} .0055144{col 42}{space 1}    2.75{col 51}{space 3}0.006{col 59}{space 4} .0043699{col 72}{space 3} .0259861
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.0812802{col 31}{space 2} .1956677{col 42}{space 1}   -0.42{col 51}{space 3}0.678{col 59}{space 4}-.4647819{col 72}{space 3} .3022215
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0066517{col 31}{space 2} .0093121{col 42}{space 1}    0.71{col 51}{space 3}0.475{col 59}{space 4}-.0115997{col 72}{space 3} .0249032
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}-.0086544{col 31}{space 2} .0141246{col 42}{space 1}   -0.61{col 51}{space 3}0.540{col 59}{space 4}-.0363382{col 72}{space 3} .0190294
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0241942{col 31}{space 2} .0240075{col 42}{space 1}   -1.01{col 51}{space 3}0.314{col 59}{space 4}-.0712481{col 72}{space 3} .0228598
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 42.74893{col 31}{space 2} 47.47931{col 42}{space 1}    0.90{col 51}{space 3}0.368{col 59}{space 4} -50.3088{col 72}{space 3} 135.8067
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(medschneidergrowth llPKObudget lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(medschneidergrowth llPKObudget lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.81{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  0.18{txt}  Pr > z = {res} 0.855
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}88{txt}){col 49}={res}2150.95{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}88{txt}){col 49}={res} 123.71{txt}{col 59}Prob > chi2 = {res} 0.007
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}92{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.603
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.531

{txt}
{com}. xtabond2 medschneidergrowth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(medschneidergrowth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.

Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     2762
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      140
{txt}Number of instruments = {res}126{col 49}{txt}Obs per group: min = {res}      244
{txt}Wald chi2({res}12{txt}){col 15}= {res}    87.63{col 64}{txt}avg = {res}    19.73
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      244
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}medschneidergro~h{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.5172355{col 31}{space 2} .1783802{col 42}{space 1}   -2.90{col 51}{space 3}0.004{col 59}{space 4}-.8668543{col 72}{space 3}-.1676166
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0168064{col 31}{space 2} .0064651{col 42}{space 1}    2.60{col 51}{space 3}0.009{col 59}{space 4} .0041352{col 72}{space 3} .0294777
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} 3.711363{col 31}{space 2} 1.438618{col 42}{space 1}    2.58{col 51}{space 3}0.010{col 59}{space 4} .8917239{col 72}{space 3} 6.531002
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}-.7204853{col 31}{space 2} 2.132295{col 42}{space 1}   -0.34{col 51}{space 3}0.735{col 59}{space 4}-4.899707{col 72}{space 3} 3.458737
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} 3.562344{col 31}{space 2} .6956432{col 42}{space 1}    5.12{col 51}{space 3}0.000{col 59}{space 4} 2.198908{col 72}{space 3} 4.925779
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .3853336{col 31}{space 2}  .206059{col 42}{space 1}    1.87{col 51}{space 3}0.061{col 59}{space 4}-.0185347{col 72}{space 3} .7892019
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} 7.95e-07{col 31}{space 2} .0001162{col 42}{space 1}    0.01{col 51}{space 3}0.995{col 59}{space 4}-.0002269{col 72}{space 3} .0002285
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} .0133883{col 31}{space 2} .0041774{col 42}{space 1}    3.20{col 51}{space 3}0.001{col 59}{space 4} .0052007{col 72}{space 3} .0215758
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0289376{col 31}{space 2} .1728434{col 42}{space 1}    0.17{col 51}{space 3}0.867{col 59}{space 4}-.3098291{col 72}{space 3} .3677044
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0029362{col 31}{space 2} .0080179{col 42}{space 1}    0.37{col 51}{space 3}0.714{col 59}{space 4}-.0127786{col 72}{space 3}  .018651
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}-.0131346{col 31}{space 2} .0129717{col 42}{space 1}   -1.01{col 51}{space 3}0.311{col 59}{space 4}-.0385587{col 72}{space 3} .0122895
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0388455{col 31}{space 2} .0198735{col 42}{space 1}   -1.95{col 51}{space 3}0.051{col 59}{space 4}-.0777968{col 72}{space 3} .0001058
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 69.41094{col 31}{space 2}  39.5988{col 42}{space 1}    1.75{col 51}{space 3}0.080{col 59}{space 4}-8.201279{col 72}{space 3} 147.0232
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(medschneidergrowth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(medschneidergrowth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.88{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -0.41{txt}  Pr > z = {res} 0.680
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}113{txt}){col 49}={res}2150.59{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}113{txt}){col 49}={res} 133.89{txt}{col 59}Prob > chi2 = {res} 0.088
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}118{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.721
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.493

{txt}
{com}. xtabond2 medschneidergrowth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(medschneidergrowth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.

Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     2762
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      140
{txt}Number of instruments = {res}102{col 49}{txt}Obs per group: min = {res}      244
{txt}Wald chi2({res}12{txt}){col 15}= {res}    49.99{col 64}{txt}avg = {res}    19.73
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      244
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}medschneidergro~h{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0575489{col 31}{space 2} .0606015{col 42}{space 1}    0.95{col 51}{space 3}0.342{col 59}{space 4}-.0612278{col 72}{space 3} .1763256
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0008901{col 31}{space 2} .0012745{col 42}{space 1}   -0.70{col 51}{space 3}0.485{col 59}{space 4} -.003388{col 72}{space 3} .0016079
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} 4.032035{col 31}{space 2} 1.975781{col 42}{space 1}    2.04{col 51}{space 3}0.041{col 59}{space 4} .1595761{col 72}{space 3} 7.904495
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.236195{col 31}{space 2} 3.108383{col 42}{space 1}    0.72{col 51}{space 3}0.472{col 59}{space 4}-3.856123{col 72}{space 3} 8.328513
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} 3.873339{col 31}{space 2} .8391041{col 42}{space 1}    4.62{col 51}{space 3}0.000{col 59}{space 4} 2.228726{col 72}{space 3} 5.517953
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .5283847{col 31}{space 2} .3017198{col 42}{space 1}    1.75{col 51}{space 3}0.080{col 59}{space 4}-.0629752{col 72}{space 3} 1.119745
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}-.0000937{col 31}{space 2} .0001285{col 42}{space 1}   -0.73{col 51}{space 3}0.466{col 59}{space 4}-.0003456{col 72}{space 3} .0001582
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} .0168938{col 31}{space 2} .0066666{col 42}{space 1}    2.53{col 51}{space 3}0.011{col 59}{space 4} .0038275{col 72}{space 3}   .02996
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0805506{col 31}{space 2} .2576188{col 42}{space 1}    0.31{col 51}{space 3}0.755{col 59}{space 4} -.424373{col 72}{space 3} .5854742
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0017885{col 31}{space 2} .0120406{col 42}{space 1}    0.15{col 51}{space 3}0.882{col 59}{space 4}-.0218105{col 72}{space 3} .0253876
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}-.0180862{col 31}{space 2}  .020035{col 42}{space 1}   -0.90{col 51}{space 3}0.367{col 59}{space 4}-.0573542{col 72}{space 3} .0211817
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0328528{col 31}{space 2} .0462411{col 42}{space 1}   -0.71{col 51}{space 3}0.477{col 59}{space 4}-.1234837{col 72}{space 3} .0577782
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 54.62779{col 31}{space 2} 92.96344{col 42}{space 1}    0.59{col 51}{space 3}0.557{col 59}{space 4}-127.5772{col 72}{space 3} 236.8328
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(medschneidergrowth postpkdummyyears postpkdummyyearsq
{col 5}lagpriominorconflict lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(medschneidergrowth postpkdummyyears postpkdummyyearsq
{col 5}lagpriominorconflict lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.91{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -0.37{txt}  Pr > z = {res} 0.709
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}89{txt}){col 49}={res}2045.12{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}89{txt}){col 49}={res} 126.89{txt}{col 59}Prob > chi2 = {res} 0.005
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}94{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.678
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.577

{txt}
{com}. 
. 
. *Table A4 Non-OECD
. xtabond2 is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust, if oecd==0
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     3995
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      121
{txt}Number of instruments = {res}197{col 49}{txt}Obs per group: min = {res}      389
{txt}Wald chi2({res}11{txt}){col 15}= {res}    48.79{col 64}{txt}avg = {res}    33.02
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      389
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-1.002316{col 31}{space 2} .4888401{col 42}{space 1}   -2.05{col 51}{space 3}0.040{col 59}{space 4}-1.960425{col 72}{space 3}-.0442071
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .3740487{col 31}{space 2}  .271649{col 42}{space 1}    1.38{col 51}{space 3}0.169{col 59}{space 4}-.1583737{col 72}{space 3}  .906471
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.295114{col 31}{space 2}  .394163{col 42}{space 1}    3.29{col 51}{space 3}0.001{col 59}{space 4} .5225688{col 72}{space 3} 2.067659
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1915996{col 31}{space 2} .1077516{col 42}{space 1}    1.78{col 51}{space 3}0.075{col 59}{space 4}-.0195897{col 72}{space 3}  .402789
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0129371{col 31}{space 2} .0776629{col 42}{space 1}    0.17{col 51}{space 3}0.868{col 59}{space 4}-.1392794{col 72}{space 3} .1651536
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001393{col 31}{space 2} .0000404{col 42}{space 1}    3.45{col 51}{space 3}0.001{col 59}{space 4} .0000601{col 72}{space 3} .0002186
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0036321{col 31}{space 2} .0032053{col 42}{space 1}   -1.13{col 51}{space 3}0.257{col 59}{space 4}-.0099143{col 72}{space 3} .0026501
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0549307{col 31}{space 2} .0515683{col 42}{space 1}    1.07{col 51}{space 3}0.287{col 59}{space 4}-.0461414{col 72}{space 3} .1560027
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0016327{col 31}{space 2} .0023824{col 42}{space 1}   -0.69{col 51}{space 3}0.493{col 59}{space 4}-.0063021{col 72}{space 3} .0030367
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0035968{col 31}{space 2} .0059873{col 42}{space 1}    0.60{col 51}{space 3}0.548{col 59}{space 4}-.0081381{col 72}{space 3} .0153317
{txt}{space 12}trend {c |}{col 19}{res}{space 2}  .001618{col 31}{space 2} .0075836{col 42}{space 1}    0.21{col 51}{space 3}0.831{col 59}{space 4}-.0132455{col 72}{space 3} .0164815
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-4.463269{col 31}{space 2} 14.96172{col 42}{space 1}   -0.30{col 51}{space 3}0.765{col 59}{space 4} -33.7877{col 72}{space 3} 24.86116
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.42{txt}  Pr > z = {res} 0.001
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.51{txt}  Pr > z = {res} 0.012
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}185{txt}){col 49}={res}2512.45{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}185{txt}){col 49}={res} 116.25{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}189{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.646
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.537

{txt}
{com}. xtabond2 is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust, if oecd==0
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     3995
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      121
{txt}Number of instruments = {res}218{col 49}{txt}Obs per group: min = {res}      420
{txt}Wald chi2({res}12{txt}){col 15}= {res}    44.38{col 64}{txt}avg = {res}    33.02
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      420
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}-.2493719{col 31}{space 2} .4486522{col 42}{space 1}   -0.56{col 51}{space 3}0.578{col 59}{space 4}-1.128714{col 72}{space 3} .6299702
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2} -2.16765{col 31}{space 2} .9752206{col 42}{space 1}   -2.22{col 51}{space 3}0.026{col 59}{space 4}-4.079048{col 72}{space 3}-.2562533
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .3580116{col 31}{space 2} .2585919{col 42}{space 1}    1.38{col 51}{space 3}0.166{col 59}{space 4}-.1488192{col 72}{space 3} .8648425
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}  1.18719{col 31}{space 2} .3818611{col 42}{space 1}    3.11{col 51}{space 3}0.002{col 59}{space 4} .4387559{col 72}{space 3} 1.935624
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1506825{col 31}{space 2} .1039917{col 42}{space 1}    1.45{col 51}{space 3}0.147{col 59}{space 4}-.0531375{col 72}{space 3} .3545025
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} -.025556{col 31}{space 2} .0785384{col 42}{space 1}   -0.33{col 51}{space 3}0.745{col 59}{space 4}-.1794885{col 72}{space 3} .1283765
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001204{col 31}{space 2} .0000399{col 42}{space 1}    3.02{col 51}{space 3}0.003{col 59}{space 4} .0000422{col 72}{space 3} .0001986
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0037688{col 31}{space 2}  .003138{col 42}{space 1}   -1.20{col 51}{space 3}0.230{col 59}{space 4}-.0099193{col 72}{space 3} .0023816
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0758773{col 31}{space 2} .0536366{col 42}{space 1}    1.41{col 51}{space 3}0.157{col 59}{space 4}-.0292486{col 72}{space 3} .1810032
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0027811{col 31}{space 2} .0024141{col 42}{space 1}   -1.15{col 51}{space 3}0.249{col 59}{space 4}-.0075126{col 72}{space 3} .0019504
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0044913{col 31}{space 2} .0057809{col 42}{space 1}    0.78{col 51}{space 3}0.437{col 59}{space 4} -.006839{col 72}{space 3} .0158216
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0029463{col 31}{space 2} .0082454{col 42}{space 1}    0.36{col 51}{space 3}0.721{col 59}{space 4}-.0132143{col 72}{space 3}  .019107
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-6.849266{col 31}{space 2} 16.21966{col 42}{space 1}   -0.42{col 51}{space 3}0.673{col 59}{space 4}-38.63922{col 72}{space 3} 24.94069
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.38{txt}  Pr > z = {res} 0.001
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.56{txt}  Pr > z = {res} 0.011
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}205{txt}){col 49}={res}2548.32{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}205{txt}){col 49}={res} 114.28{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}210{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.662
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.531

{txt}
{com}. xtabond2 is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust, if oecd==0
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     3995
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      121
{txt}Number of instruments = {res}205{col 49}{txt}Obs per group: min = {res}      402
{txt}Wald chi2({res}11{txt}){col 15}= {res}    59.19{col 64}{txt}avg = {res}    33.02
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      402
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2} -.253409{col 31}{space 2} .0955114{col 42}{space 1}   -2.65{col 51}{space 3}0.008{col 59}{space 4} -.440608{col 72}{space 3}-.0662101
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .3853535{col 31}{space 2} .2923835{col 42}{space 1}    1.32{col 51}{space 3}0.188{col 59}{space 4}-.1877077{col 72}{space 3} .9584146
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.490242{col 31}{space 2} .4300989{col 42}{space 1}    3.46{col 51}{space 3}0.001{col 59}{space 4} .6472636{col 72}{space 3}  2.33322
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .0933705{col 31}{space 2}  .113037{col 42}{space 1}    0.83{col 51}{space 3}0.409{col 59}{space 4}-.1281779{col 72}{space 3} .3149189
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0063419{col 31}{space 2} .0741324{col 42}{space 1}   -0.09{col 51}{space 3}0.932{col 59}{space 4}-.1516388{col 72}{space 3}  .138955
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001332{col 31}{space 2} .0000402{col 42}{space 1}    3.31{col 51}{space 3}0.001{col 59}{space 4} .0000544{col 72}{space 3} .0002119
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0039353{col 31}{space 2} .0033997{col 42}{space 1}   -1.16{col 51}{space 3}0.247{col 59}{space 4}-.0105987{col 72}{space 3} .0027281
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0635097{col 31}{space 2} .0545113{col 42}{space 1}    1.17{col 51}{space 3}0.244{col 59}{space 4}-.0433306{col 72}{space 3} .1703499
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0022466{col 31}{space 2} .0025432{col 42}{space 1}   -0.88{col 51}{space 3}0.377{col 59}{space 4}-.0072312{col 72}{space 3}  .002738
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0040698{col 31}{space 2} .0055755{col 42}{space 1}    0.73{col 51}{space 3}0.465{col 59}{space 4}-.0068579{col 72}{space 3} .0149975
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0038949{col 31}{space 2} .0078786{col 42}{space 1}    0.49{col 51}{space 3}0.621{col 59}{space 4}-.0115468{col 72}{space 3} .0193367
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-8.797329{col 31}{space 2} 15.49243{col 42}{space 1}   -0.57{col 51}{space 3}0.570{col 59}{space 4}-39.16193{col 72}{space 3} 21.56727
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.84{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.85{txt}  Pr > z = {res} 0.004
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}193{txt}){col 49}={res}2359.01{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}193{txt}){col 49}={res} 117.16{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}197{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.651
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.537

{txt}
{com}. xtabond2 is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust, if oecd==0
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     3995
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      121
{txt}Number of instruments = {res}241{col 49}{txt}Obs per group: min = {res}      477
{txt}Wald chi2({res}12{txt}){col 15}= {res}    47.20{col 64}{txt}avg = {res}    33.02
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      477
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0239439{col 31}{space 2} .0361817{col 42}{space 1}   -0.66{col 51}{space 3}0.508{col 59}{space 4}-.0948587{col 72}{space 3} .0469709
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0009422{col 31}{space 2} .0009707{col 42}{space 1}    0.97{col 51}{space 3}0.332{col 59}{space 4}-.0009604{col 72}{space 3} .0028447
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .2435169{col 31}{space 2}   .25471{col 42}{space 1}    0.96{col 51}{space 3}0.339{col 59}{space 4}-.2557056{col 72}{space 3} .7427393
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.688131{col 31}{space 2} .4132048{col 42}{space 1}    4.09{col 51}{space 3}0.000{col 59}{space 4} .8782648{col 72}{space 3} 2.497998
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .037615{col 31}{space 2} .1067118{col 42}{space 1}    0.35{col 51}{space 3}0.724{col 59}{space 4}-.1715362{col 72}{space 3} .2467662
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0082608{col 31}{space 2} .0669169{col 42}{space 1}   -0.12{col 51}{space 3}0.902{col 59}{space 4}-.1394156{col 72}{space 3} .1228939
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001147{col 31}{space 2} .0000486{col 42}{space 1}    2.36{col 51}{space 3}0.018{col 59}{space 4} .0000195{col 72}{space 3}   .00021
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0042925{col 31}{space 2} .0033317{col 42}{space 1}   -1.29{col 51}{space 3}0.198{col 59}{space 4}-.0108224{col 72}{space 3} .0022375
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0617964{col 31}{space 2} .0518976{col 42}{space 1}    1.19{col 51}{space 3}0.234{col 59}{space 4} -.039921{col 72}{space 3} .1635138
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0021785{col 31}{space 2} .0024083{col 42}{space 1}   -0.90{col 51}{space 3}0.366{col 59}{space 4}-.0068987{col 72}{space 3} .0025417
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0054706{col 31}{space 2} .0056595{col 42}{space 1}    0.97{col 51}{space 3}0.334{col 59}{space 4}-.0056219{col 72}{space 3}  .016563
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0004702{col 31}{space 2} .0078889{col 42}{space 1}   -0.06{col 51}{space 3}0.952{col 59}{space 4}-.0159321{col 72}{space 3} .0149918
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-.0874158{col 31}{space 2} 15.54234{col 42}{space 1}   -0.01{col 51}{space 3}0.996{col 59}{space 4}-30.54984{col 72}{space 3} 30.37501
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.57{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.88{txt}  Pr > z = {res} 0.004
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}228{txt}){col 49}={res}2496.83{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}228{txt}){col 49}={res} 113.88{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}233{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.738
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.502

{txt}
{com}. xtabond2 is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, gmm(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, eq(level)) twostep ortho pca robust, if oecd==0
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     3995
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      121
{txt}Number of instruments = {res}195{col 49}{txt}Obs per group: min = {res}      493
{txt}Wald chi2({res}12{txt}){col 15}= {res}    52.46{col 64}{txt}avg = {res}    33.02
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      493
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0368744{col 31}{space 2}  .017809{col 42}{space 1}    2.07{col 51}{space 3}0.038{col 59}{space 4} .0019695{col 72}{space 3} .0717794
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0007261{col 31}{space 2} .0003433{col 42}{space 1}   -2.11{col 51}{space 3}0.034{col 59}{space 4}-.0013989{col 72}{space 3}-.0000532
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .4817319{col 31}{space 2} .3014283{col 42}{space 1}    1.60{col 51}{space 3}0.110{col 59}{space 4}-.1090567{col 72}{space 3}  1.07252
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.851548{col 31}{space 2} .5295856{col 42}{space 1}    3.50{col 51}{space 3}0.000{col 59}{space 4}  .813579{col 72}{space 3} 2.889516
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .5448412{col 31}{space 2} .1879042{col 42}{space 1}    2.90{col 51}{space 3}0.004{col 59}{space 4} .1765557{col 72}{space 3} .9131267
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0185713{col 31}{space 2}  .077479{col 42}{space 1}    0.24{col 51}{space 3}0.811{col 59}{space 4}-.1332847{col 72}{space 3} .1704273
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000893{col 31}{space 2} .0000553{col 42}{space 1}    1.61{col 51}{space 3}0.106{col 59}{space 4}-.0000191{col 72}{space 3} .0001977
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0024866{col 31}{space 2} .0029449{col 42}{space 1}   -0.84{col 51}{space 3}0.398{col 59}{space 4}-.0082585{col 72}{space 3} .0032853
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0466131{col 31}{space 2} .0538227{col 42}{space 1}    0.87{col 51}{space 3}0.386{col 59}{space 4}-.0588774{col 72}{space 3} .1521036
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0008659{col 31}{space 2} .0025901{col 42}{space 1}   -0.33{col 51}{space 3}0.738{col 59}{space 4}-.0059424{col 72}{space 3} .0042106
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0065711{col 31}{space 2} .0063329{col 42}{space 1}    1.04{col 51}{space 3}0.299{col 59}{space 4}-.0058412{col 72}{space 3} .0189835
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0010269{col 31}{space 2} .0100017{col 42}{space 1}    0.10{col 51}{space 3}0.918{col 59}{space 4}-.0185761{col 72}{space 3} .0206298
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-4.236784{col 31}{space 2} 19.74832{col 42}{space 1}   -0.21{col 51}{space 3}0.830{col 59}{space 4}-42.94278{col 72}{space 3} 34.46921
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.83{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.66{txt}  Pr > z = {res} 0.008
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}182{txt}){col 49}={res}1743.76{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}182{txt}){col 49}={res} 117.33{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}187{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.688
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.599

{txt}
{com}. 
. *Table A6 Models with Region dummies and colonial past
. xtabond2 is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , gmm(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4939
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}199{col 49}{txt}Obs per group: min = {res}      389
{txt}Wald chi2({res}15{txt}){col 15}= {res}    66.11{col 64}{txt}avg = {res}    34.06
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      389
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.1714252{col 31}{space 2} .4990419{col 42}{space 1}   -0.34{col 51}{space 3}0.731{col 59}{space 4}-1.149529{col 72}{space 3} .8066789
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}   .45814{col 31}{space 2} .2565914{col 42}{space 1}    1.79{col 51}{space 3}0.074{col 59}{space 4}-.0447699{col 72}{space 3} .9610499
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.585396{col 31}{space 2} .4299588{col 42}{space 1}    3.69{col 51}{space 3}0.000{col 59}{space 4} .7426924{col 72}{space 3}   2.4281
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .2090405{col 31}{space 2} .1086381{col 42}{space 1}    1.92{col 51}{space 3}0.054{col 59}{space 4}-.0038863{col 72}{space 3} .4219673
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0496766{col 31}{space 2} .0555097{col 42}{space 1}   -0.89{col 51}{space 3}0.371{col 59}{space 4}-.1584735{col 72}{space 3} .0591204
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000936{col 31}{space 2} .0000462{col 42}{space 1}    2.02{col 51}{space 3}0.043{col 59}{space 4} 2.98e-06{col 72}{space 3} .0001841
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0020076{col 31}{space 2} .0028392{col 42}{space 1}   -0.71{col 51}{space 3}0.479{col 59}{space 4}-.0075723{col 72}{space 3} .0035571
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0346761{col 31}{space 2} .0458284{col 42}{space 1}    0.76{col 51}{space 3}0.449{col 59}{space 4}-.0551458{col 72}{space 3} .1244981
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0006832{col 31}{space 2} .0019927{col 42}{space 1}   -0.34{col 51}{space 3}0.732{col 59}{space 4}-.0045887{col 72}{space 3} .0032224
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0115188{col 31}{space 2} .0044086{col 42}{space 1}    2.61{col 51}{space 3}0.009{col 59}{space 4} .0028781{col 72}{space 3} .0201594
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0033825{col 31}{space 2} .0060409{col 42}{space 1}   -0.56{col 51}{space 3}0.576{col 59}{space 4}-.0152224{col 72}{space 3} .0084574
{txt}{space 13}asia {c |}{col 19}{res}{space 2}-.6526726{col 31}{space 2} .3038032{col 42}{space 1}   -2.15{col 51}{space 3}0.032{col 59}{space 4}-1.248116{col 72}{space 3}-.0572292
{txt}{space 9}lamerica {c |}{col 19}{res}{space 2} .2652798{col 31}{space 2}  .158126{col 42}{space 1}    1.68{col 51}{space 3}0.093{col 59}{space 4}-.0446414{col 72}{space 3} .5752011
{txt}{space 11}nafrme {c |}{col 19}{res}{space 2}-.0433284{col 31}{space 2}   .26211{col 42}{space 1}   -0.17{col 51}{space 3}0.869{col 59}{space 4}-.5570545{col 72}{space 3} .4703978
{txt}{space 9}ssafrica {c |}{col 19}{res}{space 2} .2037994{col 31}{space 2} .2390984{col 42}{space 1}    0.85{col 51}{space 3}0.394{col 59}{space 4}-.2648248{col 72}{space 3} .6724237
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 5.551556{col 31}{space 2} 11.86719{col 42}{space 1}    0.47{col 51}{space 3}0.640{col 59}{space 4}-17.70771{col 72}{space 3} 28.81082
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend asia lamerica nafrme ssafrica
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.94{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.66{txt}  Pr > z = {res} 0.008
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}183{txt}){col 49}={res}3115.97{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}183{txt}){col 49}={res} 138.48{txt}{col 59}Prob > chi2 = {res} 0.994
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}187{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.637
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.538

{txt}
{com}. xtabond2 is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , gmm(is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4939
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}222{col 49}{txt}Obs per group: min = {res}      420
{txt}Wald chi2({res}16{txt}){col 15}= {res}    63.34{col 64}{txt}avg = {res}    34.06
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      420
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2} .9396231{col 31}{space 2} .6461263{col 42}{space 1}    1.45{col 51}{space 3}0.146{col 59}{space 4}-.3267613{col 72}{space 3} 2.206007
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-1.655066{col 31}{space 2}  .855755{col 42}{space 1}   -1.93{col 51}{space 3}0.053{col 59}{space 4}-3.332315{col 72}{space 3} .0221834
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .5850593{col 31}{space 2} .2484782{col 42}{space 1}    2.35{col 51}{space 3}0.019{col 59}{space 4} .0980509{col 72}{space 3} 1.072068
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}  1.46447{col 31}{space 2}  .457536{col 42}{space 1}    3.20{col 51}{space 3}0.001{col 59}{space 4} .5677156{col 72}{space 3} 2.361224
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1597771{col 31}{space 2}  .102051{col 42}{space 1}    1.57{col 51}{space 3}0.117{col 59}{space 4}-.0402391{col 72}{space 3} .3597934
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} -.031701{col 31}{space 2} .0589436{col 42}{space 1}   -0.54{col 51}{space 3}0.591{col 59}{space 4}-.1472283{col 72}{space 3} .0838263
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000735{col 31}{space 2} .0000569{col 42}{space 1}    1.29{col 51}{space 3}0.196{col 59}{space 4}-.0000379{col 72}{space 3}  .000185
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0024876{col 31}{space 2} .0029448{col 42}{space 1}   -0.84{col 51}{space 3}0.398{col 59}{space 4}-.0082594{col 72}{space 3} .0032841
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0417823{col 31}{space 2} .0508974{col 42}{space 1}    0.82{col 51}{space 3}0.412{col 59}{space 4}-.0579749{col 72}{space 3} .1415394
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0012562{col 31}{space 2} .0022407{col 42}{space 1}   -0.56{col 51}{space 3}0.575{col 59}{space 4}-.0056479{col 72}{space 3} .0031355
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0115331{col 31}{space 2} .0050469{col 42}{space 1}    2.29{col 51}{space 3}0.022{col 59}{space 4} .0016414{col 72}{space 3} .0214248
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0010188{col 31}{space 2}  .006468{col 42}{space 1}   -0.16{col 51}{space 3}0.875{col 59}{space 4}-.0136958{col 72}{space 3} .0116582
{txt}{space 13}asia {c |}{col 19}{res}{space 2}-.6498811{col 31}{space 2} .3124413{col 42}{space 1}   -2.08{col 51}{space 3}0.038{col 59}{space 4}-1.262255{col 72}{space 3}-.0375075
{txt}{space 9}lamerica {c |}{col 19}{res}{space 2} .2745744{col 31}{space 2} .1798397{col 42}{space 1}    1.53{col 51}{space 3}0.127{col 59}{space 4}-.0779049{col 72}{space 3} .6270536
{txt}{space 11}nafrme {c |}{col 19}{res}{space 2}-.2674853{col 31}{space 2} .2712238{col 42}{space 1}   -0.99{col 51}{space 3}0.324{col 59}{space 4}-.7990743{col 72}{space 3} .2641036
{txt}{space 9}ssafrica {c |}{col 19}{res}{space 2} .2649888{col 31}{space 2} .2607219{col 42}{space 1}    1.02{col 51}{space 3}0.309{col 59}{space 4}-.2460167{col 72}{space 3} .7759943
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} .7702947{col 31}{space 2} 12.63587{col 42}{space 1}    0.06{col 51}{space 3}0.951{col 59}{space 4}-23.99556{col 72}{space 3} 25.53615
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend asia lamerica nafrme ssafrica
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.95{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.59{txt}  Pr > z = {res} 0.010
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}205{txt}){col 49}={res}3142.36{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}205{txt}){col 49}={res} 139.31{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}210{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.659
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.534

{txt}
{com}. xtabond2 is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , gmm(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4939
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}211{col 49}{txt}Obs per group: min = {res}      402
{txt}Wald chi2({res}15{txt}){col 15}= {res}    83.97{col 64}{txt}avg = {res}    34.06
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      402
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.2599917{col 31}{space 2} .0986643{col 42}{space 1}   -2.64{col 51}{space 3}0.008{col 59}{space 4}-.4533702{col 72}{space 3}-.0666132
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .5831354{col 31}{space 2} .2642856{col 42}{space 1}    2.21{col 51}{space 3}0.027{col 59}{space 4}  .065145{col 72}{space 3} 1.101126
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}  1.95545{col 31}{space 2}  .475174{col 42}{space 1}    4.12{col 51}{space 3}0.000{col 59}{space 4} 1.024126{col 72}{space 3} 2.886774
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1541199{col 31}{space 2} .1109766{col 42}{space 1}    1.39{col 51}{space 3}0.165{col 59}{space 4}-.0633901{col 72}{space 3}   .37163
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0693353{col 31}{space 2} .0570663{col 42}{space 1}   -1.21{col 51}{space 3}0.224{col 59}{space 4}-.1811832{col 72}{space 3} .0425125
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000964{col 31}{space 2}  .000047{col 42}{space 1}    2.05{col 51}{space 3}0.040{col 59}{space 4} 4.33e-06{col 72}{space 3} .0001886
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0017125{col 31}{space 2} .0029006{col 42}{space 1}   -0.59{col 51}{space 3}0.555{col 59}{space 4}-.0073975{col 72}{space 3} .0039726
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0404448{col 31}{space 2} .0486215{col 42}{space 1}    0.83{col 51}{space 3}0.406{col 59}{space 4}-.0548515{col 72}{space 3} .1357411
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0010436{col 31}{space 2} .0021344{col 42}{space 1}   -0.49{col 51}{space 3}0.625{col 59}{space 4}-.0052268{col 72}{space 3} .0031397
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0091893{col 31}{space 2} .0048564{col 42}{space 1}    1.89{col 51}{space 3}0.058{col 59}{space 4} -.000329{col 72}{space 3} .0187076
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0013896{col 31}{space 2} .0064798{col 42}{space 1}    0.21{col 51}{space 3}0.830{col 59}{space 4}-.0113106{col 72}{space 3} .0140899
{txt}{space 13}asia {c |}{col 19}{res}{space 2}-.8344941{col 31}{space 2} .2868514{col 42}{space 1}   -2.91{col 51}{space 3}0.004{col 59}{space 4}-1.396713{col 72}{space 3}-.2722756
{txt}{space 9}lamerica {c |}{col 19}{res}{space 2} .1943795{col 31}{space 2} .1670319{col 42}{space 1}    1.16{col 51}{space 3}0.245{col 59}{space 4}-.1329969{col 72}{space 3}  .521756
{txt}{space 11}nafrme {c |}{col 19}{res}{space 2}-.0108608{col 31}{space 2} .2848749{col 42}{space 1}   -0.04{col 51}{space 3}0.970{col 59}{space 4}-.5692054{col 72}{space 3} .5474838
{txt}{space 9}ssafrica {c |}{col 19}{res}{space 2} .0903611{col 31}{space 2} .2366552{col 42}{space 1}    0.38{col 51}{space 3}0.703{col 59}{space 4}-.3734745{col 72}{space 3} .5541967
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-3.649431{col 31}{space 2} 12.67199{col 42}{space 1}   -0.29{col 51}{space 3}0.773{col 59}{space 4}-28.48607{col 72}{space 3}  21.1872
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend asia lamerica nafrme ssafrica
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.38{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.80{txt}  Pr > z = {res} 0.005
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}195{txt}){col 49}={res}2825.57{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}195{txt}){col 49}={res} 139.38{txt}{col 59}Prob > chi2 = {res} 0.999
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}199{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.652
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.539

{txt}
{com}. xtabond2 is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , gmm(is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4939
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}243{col 49}{txt}Obs per group: min = {res}      477
{txt}Wald chi2({res}16{txt}){col 15}= {res}    76.64{col 64}{txt}avg = {res}    34.06
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      477
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0042488{col 31}{space 2} .0381156{col 42}{space 1}   -0.11{col 51}{space 3}0.911{col 59}{space 4}-.0789539{col 72}{space 3} .0704563
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0004191{col 31}{space 2} .0009461{col 42}{space 1}    0.44{col 51}{space 3}0.658{col 59}{space 4}-.0014352{col 72}{space 3} .0022733
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}  .465349{col 31}{space 2} .2308459{col 42}{space 1}    2.02{col 51}{space 3}0.044{col 59}{space 4} .0128993{col 72}{space 3} .9177988
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.155548{col 31}{space 2}  .462424{col 42}{space 1}    4.66{col 51}{space 3}0.000{col 59}{space 4} 1.249213{col 72}{space 3} 3.061882
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .0713819{col 31}{space 2} .1138678{col 42}{space 1}    0.63{col 51}{space 3}0.531{col 59}{space 4}-.1517948{col 72}{space 3} .2945587
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0430127{col 31}{space 2} .0508846{col 42}{space 1}   -0.85{col 51}{space 3}0.398{col 59}{space 4}-.1427446{col 72}{space 3} .0567192
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}  .000087{col 31}{space 2} .0000548{col 42}{space 1}    1.59{col 51}{space 3}0.113{col 59}{space 4}-.0000205{col 72}{space 3} .0001945
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0025211{col 31}{space 2} .0029465{col 42}{space 1}   -0.86{col 51}{space 3}0.392{col 59}{space 4}-.0082961{col 72}{space 3}  .003254
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0315485{col 31}{space 2} .0446785{col 42}{space 1}    0.71{col 51}{space 3}0.480{col 59}{space 4}-.0560198{col 72}{space 3} .1191168
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0007773{col 31}{space 2} .0020129{col 42}{space 1}   -0.39{col 51}{space 3}0.699{col 59}{space 4}-.0047225{col 72}{space 3}  .003168
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0113135{col 31}{space 2} .0048941{col 42}{space 1}    2.31{col 51}{space 3}0.021{col 59}{space 4} .0017212{col 72}{space 3} .0209058
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0024155{col 31}{space 2} .0061866{col 42}{space 1}   -0.39{col 51}{space 3}0.696{col 59}{space 4} -.014541{col 72}{space 3}   .00971
{txt}{space 13}asia {c |}{col 19}{res}{space 2}-.6956515{col 31}{space 2} .2645683{col 42}{space 1}   -2.63{col 51}{space 3}0.009{col 59}{space 4}-1.214196{col 72}{space 3}-.1771072
{txt}{space 9}lamerica {c |}{col 19}{res}{space 2} .2239336{col 31}{space 2} .1615812{col 42}{space 1}    1.39{col 51}{space 3}0.166{col 59}{space 4}-.0927596{col 72}{space 3} .5406269
{txt}{space 11}nafrme {c |}{col 19}{res}{space 2}-.0786946{col 31}{space 2} .2647106{col 42}{space 1}   -0.30{col 51}{space 3}0.766{col 59}{space 4}-.5975178{col 72}{space 3} .4401286
{txt}{space 9}ssafrica {c |}{col 19}{res}{space 2}  .159785{col 31}{space 2} .2329002{col 42}{space 1}    0.69{col 51}{space 3}0.493{col 59}{space 4}-.2966909{col 72}{space 3}  .616261
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 3.744042{col 31}{space 2} 12.08988{col 42}{space 1}    0.31{col 51}{space 3}0.757{col 59}{space 4}-19.95168{col 72}{space 3} 27.43977
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend asia lamerica nafrme ssafrica
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.02{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.84{txt}  Pr > z = {res} 0.004
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}226{txt}){col 49}={res}2975.53{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}226{txt}){col 49}={res} 133.92{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}231{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.731
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.503

{txt}
{com}. xtabond2 is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , gmm(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend asia lamerica nafrme ssafrica , eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4939
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      145
{txt}Number of instruments = {res}202{col 49}{txt}Obs per group: min = {res}      493
{txt}Wald chi2({res}16{txt}){col 15}= {res}    66.85{col 64}{txt}avg = {res}    34.06
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      493
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0317917{col 31}{space 2} .0176096{col 42}{space 1}    1.81{col 51}{space 3}0.071{col 59}{space 4}-.0027225{col 72}{space 3}  .066306
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0005438{col 31}{space 2} .0003207{col 42}{space 1}   -1.70{col 51}{space 3}0.090{col 59}{space 4}-.0011724{col 72}{space 3} .0000848
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}  .902866{col 31}{space 2} .3408335{col 42}{space 1}    2.65{col 51}{space 3}0.008{col 59}{space 4} .2348446{col 72}{space 3} 1.570887
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.993492{col 31}{space 2} .5912721{col 42}{space 1}    3.37{col 51}{space 3}0.001{col 59}{space 4} .8346199{col 72}{space 3} 3.152364
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .7660627{col 31}{space 2} .2072805{col 42}{space 1}    3.70{col 51}{space 3}0.000{col 59}{space 4} .3598005{col 72}{space 3} 1.172325
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0072491{col 31}{space 2}  .081431{col 42}{space 1}    0.09{col 51}{space 3}0.929{col 59}{space 4}-.1523529{col 72}{space 3}  .166851
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000425{col 31}{space 2}  .000061{col 42}{space 1}    0.70{col 51}{space 3}0.486{col 59}{space 4} -.000077{col 72}{space 3}  .000162
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0005243{col 31}{space 2} .0027915{col 42}{space 1}   -0.19{col 51}{space 3}0.851{col 59}{space 4}-.0059955{col 72}{space 3} .0049468
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0142398{col 31}{space 2} .0517214{col 42}{space 1}    0.28{col 51}{space 3}0.783{col 59}{space 4}-.0871323{col 72}{space 3} .1156119
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}  .000539{col 31}{space 2} .0023617{col 42}{space 1}    0.23{col 51}{space 3}0.819{col 59}{space 4}-.0040897{col 72}{space 3} .0051678
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0135035{col 31}{space 2} .0056969{col 42}{space 1}    2.37{col 51}{space 3}0.018{col 59}{space 4} .0023377{col 72}{space 3} .0246693
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0059105{col 31}{space 2} .0096701{col 42}{space 1}   -0.61{col 51}{space 3}0.541{col 59}{space 4}-.0248635{col 72}{space 3} .0130425
{txt}{space 13}asia {c |}{col 19}{res}{space 2} -.852988{col 31}{space 2} .3655491{col 42}{space 1}   -2.33{col 51}{space 3}0.020{col 59}{space 4}-1.569451{col 72}{space 3} -.136525
{txt}{space 9}lamerica {c |}{col 19}{res}{space 2} .2973061{col 31}{space 2} .2263885{col 42}{space 1}    1.31{col 51}{space 3}0.189{col 59}{space 4}-.1464071{col 72}{space 3} .7410193
{txt}{space 11}nafrme {c |}{col 19}{res}{space 2}  -.14615{col 31}{space 2} .3545451{col 42}{space 1}   -0.41{col 51}{space 3}0.680{col 59}{space 4}-.8410456{col 72}{space 3} .5487456
{txt}{space 9}ssafrica {c |}{col 19}{res}{space 2} .2246246{col 31}{space 2} .3236381{col 42}{space 1}    0.69{col 51}{space 3}0.488{col 59}{space 4}-.4096945{col 72}{space 3} .8589437
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 9.193109{col 31}{space 2} 19.13408{col 42}{space 1}    0.48{col 51}{space 3}0.631{col 59}{space 4}-28.30901{col 72}{space 3} 46.69523
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend asia lamerica nafrme ssafrica
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.43{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.66{txt}  Pr > z = {res} 0.008
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}185{txt}){col 49}={res}1982.91{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}185{txt}){col 49}={res} 139.52{txt}{col 59}Prob > chi2 = {res} 0.995
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}190{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.689
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.590

{txt}
{com}. 
. *Table A7 - Models with Colonial Past
. xtabond2 is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, gmm(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4780
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      139
{txt}Number of instruments = {res}197{col 49}{txt}Obs per group: min = {res}      389
{txt}Wald chi2({res}13{txt}){col 15}= {res}    47.80{col 64}{txt}avg = {res}    34.39
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      389
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.8767679{col 31}{space 2}  .484171{col 42}{space 1}   -1.81{col 51}{space 3}0.070{col 59}{space 4}-1.825726{col 72}{space 3} .0721899
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .6138973{col 31}{space 2} .2551734{col 42}{space 1}    2.41{col 51}{space 3}0.016{col 59}{space 4} .1137666{col 72}{space 3} 1.114028
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.819156{col 31}{space 2} .4587531{col 42}{space 1}    3.97{col 51}{space 3}0.000{col 59}{space 4}  .920017{col 72}{space 3} 2.718296
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1303997{col 31}{space 2} .1056086{col 42}{space 1}    1.23{col 51}{space 3}0.217{col 59}{space 4}-.0765894{col 72}{space 3} .3373887
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0154588{col 31}{space 2} .0481302{col 42}{space 1}   -0.32{col 51}{space 3}0.748{col 59}{space 4}-.1097922{col 72}{space 3} .0788746
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001434{col 31}{space 2} .0000414{col 42}{space 1}    3.46{col 51}{space 3}0.001{col 59}{space 4} .0000623{col 72}{space 3} .0002246
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0000597{col 31}{space 2} .0012464{col 42}{space 1}   -0.05{col 51}{space 3}0.962{col 59}{space 4}-.0025026{col 72}{space 3} .0023832
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0187235{col 31}{space 2} .0491305{col 42}{space 1}    0.38{col 51}{space 3}0.703{col 59}{space 4}-.0775705{col 72}{space 3} .1150174
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.000169{col 31}{space 2} .0022429{col 42}{space 1}   -0.08{col 51}{space 3}0.940{col 59}{space 4} -.004565{col 72}{space 3} .0042271
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0062208{col 31}{space 2} .0047112{col 42}{space 1}    1.32{col 51}{space 3}0.187{col 59}{space 4}-.0030129{col 72}{space 3} .0154545
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0019466{col 31}{space 2} .0063185{col 42}{space 1}    0.31{col 51}{space 3}0.758{col 59}{space 4}-.0104374{col 72}{space 3} .0143305
{txt}{space 10}colbrit {c |}{col 19}{res}{space 2}-.1446876{col 31}{space 2} .1469517{col 42}{space 1}   -0.98{col 51}{space 3}0.325{col 59}{space 4}-.4327076{col 72}{space 3} .1433323
{txt}{space 11}colfra {c |}{col 19}{res}{space 2} .3096132{col 31}{space 2} .2010414{col 42}{space 1}    1.54{col 51}{space 3}0.124{col 59}{space 4}-.0844208{col 72}{space 3} .7036471
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-5.169629{col 31}{space 2} 12.45715{col 42}{space 1}   -0.41{col 51}{space 3}0.678{col 59}{space 4}-29.58519{col 72}{space 3} 19.24593
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend colbrit colfra
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.79{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.56{txt}  Pr > z = {res} 0.010
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}183{txt}){col 49}={res}2826.66{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}183{txt}){col 49}={res} 136.84{txt}{col 59}Prob > chi2 = {res} 0.996
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}187{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.640
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.537

{txt}
{com}. xtabond2 is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, gmm(is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4780
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      139
{txt}Number of instruments = {res}220{col 49}{txt}Obs per group: min = {res}      420
{txt}Wald chi2({res}14{txt}){col 15}= {res}    46.45{col 64}{txt}avg = {res}    34.39
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      420
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}-.0456186{col 31}{space 2}  .557133{col 42}{space 1}   -0.08{col 51}{space 3}0.935{col 59}{space 4}-1.137579{col 72}{space 3} 1.046342
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-2.115338{col 31}{space 2} .8572303{col 42}{space 1}   -2.47{col 51}{space 3}0.014{col 59}{space 4}-3.795479{col 72}{space 3}-.4351979
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .7249525{col 31}{space 2} .2536307{col 42}{space 1}    2.86{col 51}{space 3}0.004{col 59}{space 4} .2278454{col 72}{space 3}  1.22206
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.739748{col 31}{space 2} .4621568{col 42}{space 1}    3.76{col 51}{space 3}0.000{col 59}{space 4} .8339369{col 72}{space 3} 2.645558
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .122198{col 31}{space 2} .1018772{col 42}{space 1}    1.20{col 51}{space 3}0.230{col 59}{space 4}-.0774776{col 72}{space 3} .3218736
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0139572{col 31}{space 2} .0506526{col 42}{space 1}   -0.28{col 51}{space 3}0.783{col 59}{space 4}-.1132346{col 72}{space 3} .0853202
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001207{col 31}{space 2} .0000454{col 42}{space 1}    2.66{col 51}{space 3}0.008{col 59}{space 4} .0000316{col 72}{space 3} .0002097
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0000204{col 31}{space 2} .0012575{col 42}{space 1}   -0.02{col 51}{space 3}0.987{col 59}{space 4}-.0024851{col 72}{space 3} .0024442
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0285451{col 31}{space 2}  .048566{col 42}{space 1}    0.59{col 51}{space 3}0.557{col 59}{space 4}-.0666425{col 72}{space 3} .1237326
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0005513{col 31}{space 2} .0022195{col 42}{space 1}   -0.25{col 51}{space 3}0.804{col 59}{space 4}-.0049015{col 72}{space 3} .0037988
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0049864{col 31}{space 2} .0047986{col 42}{space 1}    1.04{col 51}{space 3}0.299{col 59}{space 4}-.0044188{col 72}{space 3} .0143915
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0034086{col 31}{space 2} .0064604{col 42}{space 1}    0.53{col 51}{space 3}0.598{col 59}{space 4}-.0092535{col 72}{space 3} .0160707
{txt}{space 10}colbrit {c |}{col 19}{res}{space 2}-.1492863{col 31}{space 2} .1451148{col 42}{space 1}   -1.03{col 51}{space 3}0.304{col 59}{space 4}-.4337061{col 72}{space 3} .1351336
{txt}{space 11}colfra {c |}{col 19}{res}{space 2} .2493751{col 31}{space 2} .2079703{col 42}{space 1}    1.20{col 51}{space 3}0.230{col 59}{space 4}-.1582391{col 72}{space 3} .6569894
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-8.094947{col 31}{space 2} 12.72764{col 42}{space 1}   -0.64{col 51}{space 3}0.525{col 59}{space 4}-33.04066{col 72}{space 3} 16.85077
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend colbrit colfra
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.78{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.51{txt}  Pr > z = {res} 0.012
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}205{txt}){col 49}={res}2886.76{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}205{txt}){col 49}={res} 134.48{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}210{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.662
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.534

{txt}
{com}. xtabond2 is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, gmm(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4780
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      139
{txt}Number of instruments = {res}210{col 49}{txt}Obs per group: min = {res}      402
{txt}Wald chi2({res}13{txt}){col 15}= {res}    67.72{col 64}{txt}avg = {res}    34.39
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      402
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.2948343{col 31}{space 2} .1005358{col 42}{space 1}   -2.93{col 51}{space 3}0.003{col 59}{space 4}-.4918808{col 72}{space 3}-.0977878
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .6195407{col 31}{space 2} .2483555{col 42}{space 1}    2.49{col 51}{space 3}0.013{col 59}{space 4} .1327729{col 72}{space 3} 1.106309
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.072665{col 31}{space 2} .4689837{col 42}{space 1}    4.42{col 51}{space 3}0.000{col 59}{space 4} 1.153474{col 72}{space 3} 2.991857
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .050836{col 31}{space 2} .1009018{col 42}{space 1}    0.50{col 51}{space 3}0.614{col 59}{space 4}-.1469278{col 72}{space 3} .2485999
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0205911{col 31}{space 2}   .05131{col 42}{space 1}   -0.40{col 51}{space 3}0.688{col 59}{space 4}-.1211569{col 72}{space 3} .0799747
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001316{col 31}{space 2} .0000447{col 42}{space 1}    2.94{col 51}{space 3}0.003{col 59}{space 4}  .000044{col 72}{space 3} .0002193
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} .0000723{col 31}{space 2} .0013186{col 42}{space 1}    0.05{col 51}{space 3}0.956{col 59}{space 4}-.0025121{col 72}{space 3} .0026568
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0243777{col 31}{space 2} .0500719{col 42}{space 1}    0.49{col 51}{space 3}0.626{col 59}{space 4}-.0737613{col 72}{space 3} .1225168
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0004095{col 31}{space 2}  .002306{col 42}{space 1}   -0.18{col 51}{space 3}0.859{col 59}{space 4}-.0049292{col 72}{space 3} .0041102
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0047183{col 31}{space 2} .0048494{col 42}{space 1}    0.97{col 51}{space 3}0.331{col 59}{space 4}-.0047865{col 72}{space 3}  .014223
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0047364{col 31}{space 2} .0065408{col 42}{space 1}    0.72{col 51}{space 3}0.469{col 59}{space 4}-.0080834{col 72}{space 3} .0175562
{txt}{space 10}colbrit {c |}{col 19}{res}{space 2}-.1690174{col 31}{space 2}   .14517{col 42}{space 1}   -1.16{col 51}{space 3}0.244{col 59}{space 4}-.4535455{col 72}{space 3} .1155106
{txt}{space 11}colfra {c |}{col 19}{res}{space 2} .3061333{col 31}{space 2} .2016202{col 42}{space 1}    1.52{col 51}{space 3}0.129{col 59}{space 4}-.0890351{col 72}{space 3} .7013017
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -10.6008{col 31}{space 2} 12.82857{col 42}{space 1}   -0.83{col 51}{space 3}0.409{col 59}{space 4}-35.74433{col 72}{space 3} 14.54273
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend colbrit colfra
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.35{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.84{txt}  Pr > z = {res} 0.005
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}196{txt}){col 49}={res}2590.93{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}196{txt}){col 49}={res} 133.82{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}200{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.657
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.538

{txt}
{com}. xtabond2 is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, gmm(is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4780
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      139
{txt}Number of instruments = {res}241{col 49}{txt}Obs per group: min = {res}      477
{txt}Wald chi2({res}14{txt}){col 15}= {res}    56.63{col 64}{txt}avg = {res}    34.39
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      477
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0271003{col 31}{space 2} .0357484{col 42}{space 1}   -0.76{col 51}{space 3}0.448{col 59}{space 4}-.0971659{col 72}{space 3} .0429653
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0009904{col 31}{space 2} .0009735{col 42}{space 1}    1.02{col 51}{space 3}0.309{col 59}{space 4}-.0009177{col 72}{space 3} .0028985
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .5454432{col 31}{space 2} .2236751{col 42}{space 1}    2.44{col 51}{space 3}0.015{col 59}{space 4} .1070481{col 72}{space 3} .9838383
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.352098{col 31}{space 2} .4957029{col 42}{space 1}    4.74{col 51}{space 3}0.000{col 59}{space 4} 1.380538{col 72}{space 3} 3.323658
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0247015{col 31}{space 2} .1103071{col 42}{space 1}   -0.22{col 51}{space 3}0.823{col 59}{space 4}-.2408993{col 72}{space 3} .1914964
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.0110776{col 31}{space 2} .0473656{col 42}{space 1}   -0.23{col 51}{space 3}0.815{col 59}{space 4}-.1039125{col 72}{space 3} .0817572
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001177{col 31}{space 2} .0000517{col 42}{space 1}    2.28{col 51}{space 3}0.023{col 59}{space 4} .0000163{col 72}{space 3} .0002191
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0002535{col 31}{space 2} .0011617{col 42}{space 1}   -0.22{col 51}{space 3}0.827{col 59}{space 4}-.0025303{col 72}{space 3} .0020234
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0158786{col 31}{space 2}  .047037{col 42}{space 1}    0.34{col 51}{space 3}0.736{col 59}{space 4}-.0763121{col 72}{space 3} .1080694
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0002187{col 31}{space 2} .0022047{col 42}{space 1}   -0.10{col 51}{space 3}0.921{col 59}{space 4}-.0045398{col 72}{space 3} .0041024
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0063878{col 31}{space 2} .0046798{col 42}{space 1}    1.36{col 51}{space 3}0.172{col 59}{space 4}-.0027843{col 72}{space 3}   .01556
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0010291{col 31}{space 2} .0064561{col 42}{space 1}    0.16{col 51}{space 3}0.873{col 59}{space 4}-.0116246{col 72}{space 3} .0136828
{txt}{space 10}colbrit {c |}{col 19}{res}{space 2}-.1275552{col 31}{space 2} .1463463{col 42}{space 1}   -0.87{col 51}{space 3}0.383{col 59}{space 4}-.4143886{col 72}{space 3} .1592781
{txt}{space 11}colfra {c |}{col 19}{res}{space 2} .2330907{col 31}{space 2} .1893135{col 42}{space 1}    1.23{col 51}{space 3}0.218{col 59}{space 4}-.1379569{col 72}{space 3} .6041383
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-3.263257{col 31}{space 2} 12.71837{col 42}{space 1}   -0.26{col 51}{space 3}0.798{col 59}{space 4}-28.19081{col 72}{space 3} 21.66429
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend colbrit colfra
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.95{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.91{txt}  Pr > z = {res} 0.004
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}226{txt}){col 49}={res}2685.15{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}226{txt}){col 49}={res} 133.55{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}231{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.733
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.503

{txt}
{com}. xtabond2 is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, gmm(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend colbrit colfra, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4780
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      139
{txt}Number of instruments = {res}199{col 49}{txt}Obs per group: min = {res}      493
{txt}Wald chi2({res}14{txt}){col 15}= {res}    55.23{col 64}{txt}avg = {res}    34.39
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      493
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0453769{col 31}{space 2} .0160224{col 42}{space 1}    2.83{col 51}{space 3}0.005{col 59}{space 4} .0139735{col 72}{space 3} .0767804
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0008188{col 31}{space 2} .0003093{col 42}{space 1}   -2.65{col 51}{space 3}0.008{col 59}{space 4} -.001425{col 72}{space 3}-.0002126
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}  1.04694{col 31}{space 2} .3668187{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .3279881{col 72}{space 3} 1.765891
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 2.355157{col 31}{space 2} .6261223{col 42}{space 1}    3.76{col 51}{space 3}0.000{col 59}{space 4}  1.12798{col 72}{space 3} 3.582334
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .5492031{col 31}{space 2} .1613748{col 42}{space 1}    3.40{col 51}{space 3}0.001{col 59}{space 4} .2329144{col 72}{space 3} .8654919
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0246983{col 31}{space 2} .0619061{col 42}{space 1}    0.40{col 51}{space 3}0.690{col 59}{space 4}-.0966353{col 72}{space 3}  .146032
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000885{col 31}{space 2}  .000058{col 42}{space 1}    1.53{col 51}{space 3}0.127{col 59}{space 4}-.0000252{col 72}{space 3} .0002022
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} .0015116{col 31}{space 2} .0018029{col 42}{space 1}    0.84{col 51}{space 3}0.402{col 59}{space 4} -.002022{col 72}{space 3} .0050453
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} -.002093{col 31}{space 2} .0520345{col 42}{space 1}   -0.04{col 51}{space 3}0.968{col 59}{space 4}-.1040787{col 72}{space 3} .0998928
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0012775{col 31}{space 2} .0024741{col 42}{space 1}    0.52{col 51}{space 3}0.606{col 59}{space 4}-.0035717{col 72}{space 3} .0061266
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}   .00931{col 31}{space 2}   .00568{col 42}{space 1}    1.64{col 51}{space 3}0.101{col 59}{space 4}-.0018226{col 72}{space 3} .0204426
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0007683{col 31}{space 2} .0096771{col 42}{space 1}   -0.08{col 51}{space 3}0.937{col 59}{space 4}-.0197351{col 72}{space 3} .0181985
{txt}{space 10}colbrit {c |}{col 19}{res}{space 2}-.1458353{col 31}{space 2} .1901308{col 42}{space 1}   -0.77{col 51}{space 3}0.443{col 59}{space 4}-.5184849{col 72}{space 3} .2268142
{txt}{space 11}colfra {c |}{col 19}{res}{space 2} .4536445{col 31}{space 2} .2254955{col 42}{space 1}    2.01{col 51}{space 3}0.044{col 59}{space 4} .0116815{col 72}{space 3} .8956075
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-1.205231{col 31}{space 2} 19.16891{col 42}{space 1}   -0.06{col 51}{space 3}0.950{col 59}{space 4}-38.77561{col 72}{space 3} 36.36515
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend colbrit colfra
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.25{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.54{txt}  Pr > z = {res} 0.011
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}184{txt}){col 49}={res}1819.99{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}184{txt}){col 49}={res} 134.88{txt}{col 59}Prob > chi2 = {res} 0.997
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}189{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.690
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.589

{txt}
{com}. 
. 
. *Table A8 - Models with Agriculture Dummy
. xtabond2 is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, gmm(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4196
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      141
{txt}Number of instruments = {res}197{col 49}{txt}Obs per group: min = {res}      386
{txt}Wald chi2({res}12{txt}){col 15}= {res}    51.37{col 64}{txt}avg = {res}    29.76
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      386
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.9716899{col 31}{space 2}  .458153{col 42}{space 1}   -2.12{col 51}{space 3}0.034{col 59}{space 4}-1.869653{col 72}{space 3}-.0737264
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}-.0098399{col 31}{space 2} .2371004{col 42}{space 1}   -0.04{col 51}{space 3}0.967{col 59}{space 4}-.4745482{col 72}{space 3} .4548683
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.024456{col 31}{space 2} .4397534{col 42}{space 1}    2.33{col 51}{space 3}0.020{col 59}{space 4} .1625549{col 72}{space 3} 1.886357
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .3777798{col 31}{space 2} .1107657{col 42}{space 1}    3.41{col 51}{space 3}0.001{col 59}{space 4}  .160683{col 72}{space 3} .5948766
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0881615{col 31}{space 2} .0796222{col 42}{space 1}    1.11{col 51}{space 3}0.268{col 59}{space 4}-.0678952{col 72}{space 3} .2442181
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}  .000087{col 31}{space 2}  .000043{col 42}{space 1}    2.02{col 51}{space 3}0.043{col 59}{space 4} 2.77e-06{col 72}{space 3} .0001713
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0013304{col 31}{space 2} .0011748{col 42}{space 1}   -1.13{col 51}{space 3}0.257{col 59}{space 4}-.0036329{col 72}{space 3} .0009722
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0776623{col 31}{space 2} .0529429{col 42}{space 1}    1.47{col 51}{space 3}0.142{col 59}{space 4}-.0261039{col 72}{space 3} .1814285
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.002545{col 31}{space 2}  .002445{col 42}{space 1}   -1.04{col 51}{space 3}0.298{col 59}{space 4}-.0073372{col 72}{space 3} .0022472
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0057327{col 31}{space 2}  .004842{col 42}{space 1}    1.18{col 51}{space 3}0.236{col 59}{space 4}-.0037574{col 72}{space 3} .0152228
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0009732{col 31}{space 2} .0071679{col 42}{space 1}   -0.14{col 51}{space 3}0.892{col 59}{space 4}-.0150221{col 72}{space 3} .0130756
{txt}{space 12}agric {c |}{col 19}{res}{space 2} .0142883{col 31}{space 2} .0083666{col 42}{space 1}    1.71{col 51}{space 3}0.088{col 59}{space 4}  -.00211{col 72}{space 3} .0306866
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-.5448183{col 31}{space 2} 14.37297{col 42}{space 1}   -0.04{col 51}{space 3}0.970{col 59}{space 4}-28.71532{col 72}{space 3} 27.62568
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend agric
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkdummy lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.62{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.39{txt}  Pr > z = {res} 0.017
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}184{txt}){col 49}={res}2407.09{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}184{txt}){col 49}={res} 133.18{txt}{col 59}Prob > chi2 = {res} 0.998
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}188{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.649
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.535

{txt}
{com}. xtabond2 is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, gmm(is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4196
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      141
{txt}Number of instruments = {res}219{col 49}{txt}Obs per group: min = {res}      416
{txt}Wald chi2({res}13{txt}){col 15}= {res}    66.89{col 64}{txt}avg = {res}    29.76
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      416
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}-.3143132{col 31}{space 2} .4499382{col 42}{space 1}   -0.70{col 51}{space 3}0.485{col 59}{space 4}-1.196176{col 72}{space 3} .5675494
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-1.594425{col 31}{space 2} .8261703{col 42}{space 1}   -1.93{col 51}{space 3}0.054{col 59}{space 4}-3.213689{col 72}{space 3} .0248391
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}   .20292{col 31}{space 2} .2470119{col 42}{space 1}    0.82{col 51}{space 3}0.411{col 59}{space 4}-.2812145{col 72}{space 3} .6870545
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.109197{col 31}{space 2} .4413153{col 42}{space 1}    2.51{col 51}{space 3}0.012{col 59}{space 4} .2442353{col 72}{space 3}  1.97416
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .3796733{col 31}{space 2} .1082745{col 42}{space 1}    3.51{col 51}{space 3}0.000{col 59}{space 4} .1674592{col 72}{space 3} .5918874
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0905303{col 31}{space 2} .0755599{col 42}{space 1}    1.20{col 51}{space 3}0.231{col 59}{space 4}-.0575644{col 72}{space 3}  .238625
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000856{col 31}{space 2} .0000481{col 42}{space 1}    1.78{col 51}{space 3}0.075{col 59}{space 4}-8.65e-06{col 72}{space 3} .0001798
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0011907{col 31}{space 2} .0012005{col 42}{space 1}   -0.99{col 51}{space 3}0.321{col 59}{space 4}-.0035437{col 72}{space 3} .0011623
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0808251{col 31}{space 2} .0516328{col 42}{space 1}    1.57{col 51}{space 3}0.117{col 59}{space 4}-.0203734{col 72}{space 3} .1820235
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.002697{col 31}{space 2} .0024207{col 42}{space 1}   -1.11{col 51}{space 3}0.265{col 59}{space 4}-.0074415{col 72}{space 3} .0020476
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0059568{col 31}{space 2}  .004664{col 42}{space 1}    1.28{col 51}{space 3}0.202{col 59}{space 4}-.0031845{col 72}{space 3}  .015098
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0006927{col 31}{space 2} .0071567{col 42}{space 1}   -0.10{col 51}{space 3}0.923{col 59}{space 4}-.0147196{col 72}{space 3} .0133343
{txt}{space 12}agric {c |}{col 19}{res}{space 2} .0141848{col 31}{space 2}  .007979{col 42}{space 1}    1.78{col 51}{space 3}0.075{col 59}{space 4}-.0014538{col 72}{space 3} .0298233
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -1.18619{col 31}{space 2} 14.30659{col 42}{space 1}   -0.08{col 51}{space 3}0.934{col 59}{space 4}-29.22658{col 72}{space 3}  26.8542
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend agric
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lPKOtrad lPKOtrans lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.62{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.44{txt}  Pr > z = {res} 0.015
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}205{txt}){col 49}={res}2474.86{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}205{txt}){col 49}={res} 133.74{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}210{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.671
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.528

{txt}
{com}. xtabond2 is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, gmm(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4196
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      141
{txt}Number of instruments = {res}202{col 49}{txt}Obs per group: min = {res}      400
{txt}Wald chi2({res}12{txt}){col 15}= {res}    74.07{col 64}{txt}avg = {res}    29.76
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      400
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.2732442{col 31}{space 2} .1140273{col 42}{space 1}   -2.40{col 51}{space 3}0.017{col 59}{space 4}-.4967337{col 72}{space 3}-.0497547
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} -.147942{col 31}{space 2} .2277507{col 42}{space 1}   -0.65{col 51}{space 3}0.516{col 59}{space 4}-.5943253{col 72}{space 3} .2984412
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.321417{col 31}{space 2} .4794178{col 42}{space 1}    2.76{col 51}{space 3}0.006{col 59}{space 4} .3817757{col 72}{space 3} 2.261059
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .3235087{col 31}{space 2} .1129754{col 42}{space 1}    2.86{col 51}{space 3}0.004{col 59}{space 4}  .102081{col 72}{space 3} .5449365
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0808724{col 31}{space 2} .0755403{col 42}{space 1}    1.07{col 51}{space 3}0.284{col 59}{space 4} -.067184{col 72}{space 3} .2289287
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000923{col 31}{space 2} .0000437{col 42}{space 1}    2.11{col 51}{space 3}0.035{col 59}{space 4} 6.70e-06{col 72}{space 3} .0001779
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0016506{col 31}{space 2} .0012252{col 42}{space 1}   -1.35{col 51}{space 3}0.178{col 59}{space 4}-.0040519{col 72}{space 3} .0007507
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0883854{col 31}{space 2} .0546011{col 42}{space 1}    1.62{col 51}{space 3}0.106{col 59}{space 4}-.0186307{col 72}{space 3} .1954015
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0031405{col 31}{space 2} .0025442{col 42}{space 1}   -1.23{col 51}{space 3}0.217{col 59}{space 4} -.008127{col 72}{space 3} .0018459
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .004429{col 31}{space 2}    .0045{col 42}{space 1}    0.98{col 51}{space 3}0.325{col 59}{space 4}-.0043908{col 72}{space 3} .0132488
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0020392{col 31}{space 2} .0074319{col 42}{space 1}    0.27{col 51}{space 3}0.784{col 59}{space 4}-.0125269{col 72}{space 3} .0166054
{txt}{space 12}agric {c |}{col 19}{res}{space 2} .0129677{col 31}{space 2} .0082908{col 42}{space 1}    1.56{col 51}{space 3}0.118{col 59}{space 4}-.0032819{col 72}{space 3} .0292174
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-6.382229{col 31}{space 2} 14.85214{col 42}{space 1}   -0.43{col 51}{space 3}0.667{col 59}{space 4}-35.49189{col 72}{space 3} 22.72744
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend agric
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth llPKObudget lagpriominorconflict lagpriomajorconflict
{col 5}lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.16{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.70{txt}  Pr > z = {res} 0.007
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}189{txt}){col 49}={res}2232.09{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}189{txt}){col 49}={res} 134.91{txt}{col 59}Prob > chi2 = {res} 0.999
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}193{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.647
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.538

{txt}
{com}. xtabond2 is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, gmm(is100growth lpkyears lpkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4196
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      141
{txt}Number of instruments = {res}237{col 49}{txt}Obs per group: min = {res}      475
{txt}Wald chi2({res}13{txt}){col 15}= {res}    62.06{col 64}{txt}avg = {res}    29.76
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      475
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkyears {c |}{col 19}{res}{space 2}-.0388336{col 31}{space 2} .0351226{col 42}{space 1}   -1.11{col 51}{space 3}0.269{col 59}{space 4}-.1076727{col 72}{space 3} .0300055
{txt}{space 8}lpkyearsq {c |}{col 19}{res}{space 2} .0012989{col 31}{space 2} .0009599{col 42}{space 1}    1.35{col 51}{space 3}0.176{col 59}{space 4}-.0005825{col 72}{space 3} .0031802
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}-.2632292{col 31}{space 2} .2138589{col 42}{space 1}   -1.23{col 51}{space 3}0.218{col 59}{space 4}-.6823849{col 72}{space 3} .1559266
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.137001{col 31}{space 2}  .416159{col 42}{space 1}    2.73{col 51}{space 3}0.006{col 59}{space 4} .3213441{col 72}{space 3} 1.952657
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .3802306{col 31}{space 2} .1174885{col 42}{space 1}    3.24{col 51}{space 3}0.001{col 59}{space 4} .1499573{col 72}{space 3} .6105039
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2} .0776427{col 31}{space 2} .0699238{col 42}{space 1}    1.11{col 51}{space 3}0.267{col 59}{space 4}-.0594053{col 72}{space 3} .2146908
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000779{col 31}{space 2} .0000512{col 42}{space 1}    1.52{col 51}{space 3}0.128{col 59}{space 4}-.0000223{col 72}{space 3} .0001782
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0017239{col 31}{space 2} .0011931{col 42}{space 1}   -1.44{col 51}{space 3}0.148{col 59}{space 4}-.0040622{col 72}{space 3} .0006145
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0865647{col 31}{space 2} .0521504{col 42}{space 1}    1.66{col 51}{space 3}0.097{col 59}{space 4}-.0156482{col 72}{space 3} .1887776
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0029628{col 31}{space 2} .0024208{col 42}{space 1}   -1.22{col 51}{space 3}0.221{col 59}{space 4}-.0077074{col 72}{space 3} .0017818
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .006033{col 31}{space 2} .0044194{col 42}{space 1}    1.37{col 51}{space 3}0.172{col 59}{space 4}-.0026289{col 72}{space 3} .0146948
{txt}{space 12}trend {c |}{col 19}{res}{space 2}-.0035026{col 31}{space 2} .0071368{col 42}{space 1}   -0.49{col 51}{space 3}0.624{col 59}{space 4}-.0174904{col 72}{space 3} .0104852
{txt}{space 12}agric {c |}{col 19}{res}{space 2} .0119384{col 31}{space 2} .0076173{col 42}{space 1}    1.57{col 51}{space 3}0.117{col 59}{space 4}-.0029913{col 72}{space 3} .0268681
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}  4.58421{col 31}{space 2} 14.21706{col 42}{space 1}    0.32{col 51}{space 3}0.747{col 59}{space 4}-23.28072{col 72}{space 3} 32.44914
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend agric
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth lpkyears lpkyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -3.77{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.62{txt}  Pr > z = {res} 0.009
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}223{txt}){col 49}={res}2377.31{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}223{txt}){col 49}={res} 134.52{txt}{col 59}Prob > chi2 = {res} 1.000
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}228{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.732
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.501

{txt}
{com}. xtabond2 is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, gmm(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict, lag(1 1)) iv(laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend agric, eq(level)) twostep ortho pca robust
{res}{txt}Favoring speed over space. To switch, type or click on {stata "mata: mata set matafavor space, perm"}.
{res}Warning: Number of instruments may be large relative to number of observations.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}ccode{txt}{col 49}Number of obs      = {res}     4196
{txt}Time variable : {res}year{txt}{col 49}Number of groups   = {res}      141
{txt}Number of instruments = {res}198{col 49}{txt}Obs per group: min = {res}      491
{txt}Wald chi2({res}13{txt}){col 15}= {res}    71.09{col 64}{txt}avg = {res}    29.76
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}      491
{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}   Corrected
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0518745{col 31}{space 2} .0166261{col 42}{space 1}    3.12{col 51}{space 3}0.002{col 59}{space 4} .0192879{col 72}{space 3}  .084461
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2} -.000966{col 31}{space 2} .0003179{col 42}{space 1}   -3.04{col 51}{space 3}0.002{col 59}{space 4}-.0015891{col 72}{space 3}-.0003429
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .1350973{col 31}{space 2} .2884293{col 42}{space 1}    0.47{col 51}{space 3}0.640{col 59}{space 4}-.4302137{col 72}{space 3} .7004082
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} 1.277186{col 31}{space 2} .6033141{col 42}{space 1}    2.12{col 51}{space 3}0.034{col 59}{space 4} .0947119{col 72}{space 3}  2.45966
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .9134752{col 31}{space 2} .1735903{col 42}{space 1}    5.26{col 51}{space 3}0.000{col 59}{space 4} .5732446{col 72}{space 3} 1.253706
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}  .171381{col 31}{space 2} .0909239{col 42}{space 1}    1.88{col 51}{space 3}0.059{col 59}{space 4}-.0068265{col 72}{space 3} .3495885
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000289{col 31}{space 2} .0000637{col 42}{space 1}    0.45{col 51}{space 3}0.650{col 59}{space 4} -.000096{col 72}{space 3} .0001539
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0001735{col 31}{space 2} .0017025{col 42}{space 1}   -0.10{col 51}{space 3}0.919{col 59}{space 4}-.0035103{col 72}{space 3} .0031632
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0750067{col 31}{space 2} .0636804{col 42}{space 1}    1.18{col 51}{space 3}0.239{col 59}{space 4}-.0498046{col 72}{space 3} .1998181
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0017388{col 31}{space 2} .0029784{col 42}{space 1}   -0.58{col 51}{space 3}0.559{col 59}{space 4}-.0075763{col 72}{space 3} .0040987
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0065717{col 31}{space 2}  .005018{col 42}{space 1}    1.31{col 51}{space 3}0.190{col 59}{space 4}-.0032635{col 72}{space 3} .0164068
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0001454{col 31}{space 2} .0104228{col 42}{space 1}    0.01{col 51}{space 3}0.989{col 59}{space 4}-.0202829{col 72}{space 3} .0205736
{txt}{space 12}agric {c |}{col 19}{res}{space 2} .0184289{col 31}{space 2} .0097611{col 42}{space 1}    1.89{col 51}{space 3}0.059{col 59}{space 4}-.0007025{col 72}{space 3} .0375604
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-4.658836{col 31}{space 2}  20.8831{col 42}{space 1}   -0.22{col 51}{space 3}0.823{col 59}{space 4}-45.58896{col 72}{space 3} 36.27128
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for orthogonal deviations equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
Instruments for levels equation
{col 3}Standard
{col 5}laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary
{col 5}trend agric
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.(is100growth postpkdummyyears postpkdummyyearsq lagpriominorconflict
{col 5}lagpriomajorconflict lnbconflict)
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res} -4.28{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res} -2.69{txt}  Pr > z = {res} 0.007
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}184{txt}){col 49}={res}1697.66{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}184{txt}){col 49}={res} 136.37{txt}{col 59}Prob > chi2 = {res} 0.997
{txt}  (Robust, but weakened by many instruments.)
{hline 78}
Extracted {res}189{txt} principal components from GMM-style instruments
  Portion of variance explained by the components = {res} 0.694
{txt}  {help pca postestimation##kmo:Kaiser-Meyer-Olkin measure} of sampling adequacy = {res} 0.590

{txt}
{com}. 
. *Table A9 Summary Statistics
. xtreg is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend , fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0703{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0480{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0248{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}11{txt},{res}4784{txt}){col 67}={col 70}{res}    32.90
{txt}corr(u_i, Xb){col 16}= {res}-0.6792{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.1050583{col 31}{space 2} .1134937{col 42}{space 1}   -0.93{col 51}{space 3}0.355{col 59}{space 4}-.3275582{col 72}{space 3} .1174416
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0945499{col 31}{space 2} .0689877{col 42}{space 1}    1.37{col 51}{space 3}0.171{col 59}{space 4}-.0406976{col 72}{space 3} .2297975
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2}  .415941{col 31}{space 2} .1028669{col 42}{space 1}    4.04{col 51}{space 3}0.000{col 59}{space 4} .2142745{col 72}{space 3} .6176075
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1574223{col 31}{space 2} .0332617{col 42}{space 1}    4.73{col 51}{space 3}0.000{col 59}{space 4}  .092214{col 72}{space 3} .2226306
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.3990148{col 31}{space 2} .0785851{col 42}{space 1}   -5.08{col 51}{space 3}0.000{col 59}{space 4}-.5530778{col 72}{space 3}-.2449517
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001158{col 31}{space 2} .0000314{col 42}{space 1}    3.69{col 51}{space 3}0.000{col 59}{space 4} .0000542{col 72}{space 3} .0001773
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0107812{col 31}{space 2} .0009538{col 42}{space 1}  -11.30{col 51}{space 3}0.000{col 59}{space 4}-.0126512{col 72}{space 3}-.0089113
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0933932{col 31}{space 2} .0204711{col 42}{space 1}    4.56{col 51}{space 3}0.000{col 59}{space 4} .0532605{col 72}{space 3}  .133526
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} -.003892{col 31}{space 2} .0009659{col 42}{space 1}   -4.03{col 51}{space 3}0.000{col 59}{space 4}-.0057856{col 72}{space 3}-.0019985
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0167277{col 31}{space 2}  .003376{col 42}{space 1}    4.95{col 51}{space 3}0.000{col 59}{space 4} .0101093{col 72}{space 3} .0233461
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0077021{col 31}{space 2} .0029569{col 42}{space 1}    2.60{col 51}{space 3}0.009{col 59}{space 4} .0019053{col 72}{space 3}  .013499
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -13.2995{col 31}{space 2} 5.604595{col 42}{space 1}   -2.37{col 51}{space 3}0.018{col 59}{space 4}-24.28709{col 72}{space 3}-2.311919
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0355572
          {txt}sigma_e {c |} {res} 1.2088287
              {txt}rho {c |} {res} .42325522{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4784{txt}) = {res}11.65{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. sum is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend if e(sample)

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}is100growth {c |}{res}      4,940   -.8108886    1.414031  -17.37157   6.112576
{txt}{space 4}lpkdummy {c |}{res}      4,940    .0526316    .2233195          0          1
{txt}lagpriomin~t {c |}{res}      4,940    .1263158    .3322386          0          1
{txt}lagpriomaj~t {c |}{res}      4,940    .0447368    .2067465          0          1
{txt}{space 1}lnbconflict {c |}{res}      4,940    .6785425    .7873166          0          2
{txt}{hline 13}{c +}{hline 57}
{space 3}laggdplog {c |}{res}      4,940    7.788166    1.619635    4.62277   11.36358
{txt}laginflation {c |}{res}      4,940    48.92882    570.4736  -31.56591   26765.86
{txt}{space 4}lagtrade {c |}{res}      4,940    74.04613    48.81749   6.320343   531.7374
{txt}{space 1}lagpolity20 {c |}{res}      4,940    11.91559    7.246503          0         20
{txt}lagpolity2~d {c |}{res}      4,940    194.4824     160.513          0        400
{txt}{hline 13}{c +}{hline 57}
{space 2}lsecondary {c |}{res}      4,940    32.73548    19.06278   .5821033     87.681
{txt}{space 7}trend {c |}{res}      4,940    1993.411    11.77358       1971       2012
{txt}
{com}. *Trans vs Trad PKOs
. xtreg is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend , fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0721{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0447{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0236{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}12{txt},{res}4783{txt}){col 67}={col 70}{res}    30.99
{txt}corr(u_i, Xb){col 16}= {res}-0.6944{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2} .1918442{col 31}{space 2} .1493764{col 42}{space 1}    1.28{col 51}{space 3}0.199{col 59}{space 4}-.1010024{col 72}{space 3} .4846907
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-.4511307{col 31}{space 2} .1603255{col 42}{space 1}   -2.81{col 51}{space 3}0.005{col 59}{space 4}-.7654424{col 72}{space 3}-.1368189
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .1055966{col 31}{space 2} .0690226{col 42}{space 1}    1.53{col 51}{space 3}0.126{col 59}{space 4}-.0297195{col 72}{space 3} .2409127
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4052159{col 31}{space 2} .1028376{col 42}{space 1}    3.94{col 51}{space 3}0.000{col 59}{space 4}  .203607{col 72}{space 3} .6068249
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1530131{col 31}{space 2} .0332642{col 42}{space 1}    4.60{col 51}{space 3}0.000{col 59}{space 4}    .0878{col 72}{space 3} .2182263
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4265863{col 31}{space 2} .0790344{col 42}{space 1}   -5.40{col 51}{space 3}0.000{col 59}{space 4}-.5815301{col 72}{space 3}-.2716425
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}  .000109{col 31}{space 2} .0000314{col 42}{space 1}    3.47{col 51}{space 3}0.001{col 59}{space 4} .0000473{col 72}{space 3} .0001706
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0106849{col 31}{space 2} .0009535{col 42}{space 1}  -11.21{col 51}{space 3}0.000{col 59}{space 4}-.0125543{col 72}{space 3}-.0088155
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}  .095375{col 31}{space 2} .0204636{col 42}{space 1}    4.66{col 51}{space 3}0.000{col 59}{space 4} .0552569{col 72}{space 3}  .135493
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0039738{col 31}{space 2} .0009654{col 42}{space 1}   -4.12{col 51}{space 3}0.000{col 59}{space 4}-.0058664{col 72}{space 3}-.0020812
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0166656{col 31}{space 2} .0033731{col 42}{space 1}    4.94{col 51}{space 3}0.000{col 59}{space 4} .0100528{col 72}{space 3} .0232784
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0084436{col 31}{space 2} .0029643{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .0026322{col 72}{space 3} .0142549
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-14.57823{col 31}{space 2} 5.615364{col 42}{space 1}   -2.60{col 51}{space 3}0.009{col 59}{space 4}-25.58692{col 72}{space 3} -3.56953
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0586925
          {txt}sigma_e {c |} {res} 1.2077785
              {txt}rho {c |} {res} .43450447{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4783{txt}) = {res}11.73{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. sum lPKOtrad lPKOtrans if e(sample)

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}lPKOtrad {c |}{res}      4,940    .0362348    .1868928          0          1
{txt}{space 3}lPKOtrans {c |}{res}      4,940    .0163968    .1270086          0          1
{txt}
{com}. *PK BUDGET
. xtreg is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend , fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0711{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0451{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0239{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}11{txt},{res}4784{txt}){col 67}={col 70}{res}    33.28
{txt}corr(u_i, Xb){col 16}= {res}-0.6905{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.0512374{col 31}{space 2} .0233633{col 42}{space 1}   -2.19{col 51}{space 3}0.028{col 59}{space 4}-.0970403{col 72}{space 3}-.0054345
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0979625{col 31}{space 2} .0689797{col 42}{space 1}    1.42{col 51}{space 3}0.156{col 59}{space 4}-.0372695{col 72}{space 3} .2331944
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .4100407{col 31}{space 2} .1028673{col 42}{space 1}    3.99{col 51}{space 3}0.000{col 59}{space 4} .2083735{col 72}{space 3} .6117078
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}  .156664{col 31}{space 2} .0332424{col 42}{space 1}    4.71{col 51}{space 3}0.000{col 59}{space 4} .0914937{col 72}{space 3} .2218343
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4149427{col 31}{space 2} .0785807{col 42}{space 1}   -5.28{col 51}{space 3}0.000{col 59}{space 4} -.568997{col 72}{space 3}-.2608884
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001136{col 31}{space 2} .0000314{col 42}{space 1}    3.62{col 51}{space 3}0.000{col 59}{space 4} .0000521{col 72}{space 3} .0001752
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0107408{col 31}{space 2} .0009534{col 42}{space 1}  -11.27{col 51}{space 3}0.000{col 59}{space 4}-.0126098{col 72}{space 3}-.0088718
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0962497{col 31}{space 2} .0204867{col 42}{space 1}    4.70{col 51}{space 3}0.000{col 59}{space 4} .0560863{col 72}{space 3} .1364131
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0040252{col 31}{space 2} .0009667{col 42}{space 1}   -4.16{col 51}{space 3}0.000{col 59}{space 4}-.0059204{col 72}{space 3}  -.00213
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .016339{col 31}{space 2}  .003377{col 42}{space 1}    4.84{col 51}{space 3}0.000{col 59}{space 4} .0097186{col 72}{space 3} .0229594
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0084795{col 31}{space 2}  .002973{col 42}{space 1}    2.85{col 51}{space 3}0.004{col 59}{space 4} .0026511{col 72}{space 3} .0143079
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-14.71861{col 31}{space 2} 5.634554{col 42}{space 1}   -2.61{col 51}{space 3}0.009{col 59}{space 4}-25.76493{col 72}{space 3}-3.672296
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.0530182
          {txt}sigma_e {c |} {res} 1.2083297
              {txt}rho {c |} {res} .43164151{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4784{txt}) = {res}11.70{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. sum llPKObudget if e(sample)

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}llPKObudget {c |}{res}      4,940    .1920848    .9565804          0   7.846704
{txt}
{com}. *PK years
. xtreg is100growth pkyears pkyearsq postpkdummyyears postpkdummyyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend , fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,940
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0827{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.0385{col 63}{txt}avg{col 67}={col 69}{res}      34.1
{txt}     overall = {res}0.0242{col 63}{txt}max{col 67}={col 69}{res}        42

{txt}{col 49}F({res}14{txt},{res}4781{txt}){col 67}={col 70}{res}    30.77
{txt}corr(u_i, Xb){col 16}= {res}-0.7243{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}pkyears {c |}{col 19}{res}{space 2} .0395676{col 31}{space 2} .0213679{col 42}{space 1}    1.85{col 51}{space 3}0.064{col 59}{space 4}-.0023232{col 72}{space 3} .0814585
{txt}{space 9}pkyearsq {c |}{col 19}{res}{space 2}-.0004476{col 31}{space 2} .0005246{col 42}{space 1}   -0.85{col 51}{space 3}0.394{col 59}{space 4}-.0014761{col 72}{space 3}  .000581
{txt}{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0461836{col 31}{space 2} .0059538{col 42}{space 1}    7.76{col 51}{space 3}0.000{col 59}{space 4} .0345113{col 72}{space 3} .0578559
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0006111{col 31}{space 2} .0001088{col 42}{space 1}   -5.62{col 51}{space 3}0.000{col 59}{space 4}-.0008243{col 72}{space 3}-.0003978
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}  .082068{col 31}{space 2} .0687111{col 42}{space 1}    1.19{col 51}{space 3}0.232{col 59}{space 4}-.0526373{col 72}{space 3} .2167733
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3165436{col 31}{space 2} .1032544{col 42}{space 1}    3.07{col 51}{space 3}0.002{col 59}{space 4} .1141175{col 72}{space 3} .5189697
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .1384236{col 31}{space 2} .0331956{col 42}{space 1}    4.17{col 51}{space 3}0.000{col 59}{space 4}  .073345{col 72}{space 3} .2035022
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.4900207{col 31}{space 2} .0791639{col 42}{space 1}   -6.19{col 51}{space 3}0.000{col 59}{space 4}-.6452184{col 72}{space 3}-.3348229
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0001121{col 31}{space 2} .0000313{col 42}{space 1}    3.59{col 51}{space 3}0.000{col 59}{space 4} .0000508{col 72}{space 3} .0001734
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0105811{col 31}{space 2} .0009504{col 42}{space 1}  -11.13{col 51}{space 3}0.000{col 59}{space 4}-.0124444{col 72}{space 3}-.0087179
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .1026389{col 31}{space 2} .0203842{col 42}{space 1}    5.04{col 51}{space 3}0.000{col 59}{space 4} .0626765{col 72}{space 3} .1426013
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0041737{col 31}{space 2} .0009614{col 42}{space 1}   -4.34{col 51}{space 3}0.000{col 59}{space 4}-.0060583{col 72}{space 3} -.002289
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2}  .013063{col 31}{space 2} .0033932{col 42}{space 1}    3.85{col 51}{space 3}0.000{col 59}{space 4} .0064108{col 72}{space 3} .0197151
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0021698{col 31}{space 2} .0039827{col 42}{space 1}    0.54{col 51}{space 3}0.586{col 59}{space 4}-.0056381{col 72}{space 3} .0099777
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-2.160919{col 31}{space 2} 7.765492{col 42}{space 1}   -0.28{col 51}{space 3}0.781{col 59}{space 4}-17.38486{col 72}{space 3} 13.06302
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 1.1205417
          {txt}sigma_e {c |} {res} 1.2011607
              {txt}rho {c |} {res} .46531774{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4781{txt}) = {res}12.06{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. sum pkyears pkyearsq postpkdummyyears postpkdummyyearsq if e(sample)

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}pkyears {c |}{res}      4,940    .5838057    3.570319          0         47
{txt}{space 4}pkyearsq {c |}{res}      4,940    13.08543    115.0358          0       2209
{txt}postpkdumm~s {c |}{res}      4,940    24.70526    14.22152          0         52
{txt}postpkdumm~q {c |}{res}      4,940    812.5607    744.2643          0       2704
{txt}
{com}. 
. *Table A10 
. xtreg is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lis100growth lagis100 , fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     4,835
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       145

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.4933{col 63}{txt}min{col 67}={col 69}{res}         8
{txt}     between = {res}0.3293{col 63}{txt}avg{col 67}={col 69}{res}      33.3
{txt}     overall = {res}0.2999{col 63}{txt}max{col 67}={col 69}{res}        41

{txt}{col 49}F({res}11{txt},{res}4679{txt}){col 67}={col 70}{res}   414.12
{txt}corr(u_i, Xb){col 16}= {res}-0.6718{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.1622021{col 31}{space 2} .0833247{col 42}{space 1}   -1.95{col 51}{space 3}0.052{col 59}{space 4}-.3255578{col 72}{space 3} .0011537
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0567333{col 31}{space 2}  .050958{col 42}{space 1}    1.11{col 51}{space 3}0.266{col 59}{space 4}-.0431684{col 72}{space 3} .1566349
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .1751766{col 31}{space 2} .0766779{col 42}{space 1}    2.28{col 51}{space 3}0.022{col 59}{space 4} .0248518{col 72}{space 3} .3255015
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2} .0570848{col 31}{space 2}  .024773{col 42}{space 1}    2.30{col 51}{space 3}0.021{col 59}{space 4} .0085181{col 72}{space 3} .1056515
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-.7995767{col 31}{space 2}  .070167{col 42}{space 1}  -11.40{col 51}{space 3}0.000{col 59}{space 4}-.9371371{col 72}{space 3}-.6620164
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2}-.0000162{col 31}{space 2} .0000251{col 42}{space 1}   -0.64{col 51}{space 3}0.519{col 59}{space 4}-.0000654{col 72}{space 3}  .000033
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0050344{col 31}{space 2} .0007037{col 42}{space 1}   -7.15{col 51}{space 3}0.000{col 59}{space 4}-.0064139{col 72}{space 3}-.0036548
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2} .0297497{col 31}{space 2}  .014563{col 42}{space 1}    2.04{col 51}{space 3}0.041{col 59}{space 4} .0011993{col 72}{space 3} .0583002
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}-.0015853{col 31}{space 2} .0007058{col 42}{space 1}   -2.25{col 51}{space 3}0.025{col 59}{space 4}-.0029689{col 72}{space 3}-.0002017
{txt}{space 5}lis100growth {c |}{col 19}{res}{space 2} .6193271{col 31}{space 2} .0105481{col 42}{space 1}   58.71{col 51}{space 3}0.000{col 59}{space 4} .5986478{col 72}{space 3} .6400065
{txt}{space 9}lagis100 {c |}{col 19}{res}{space 2} -.082975{col 31}{space 2} .0043852{col 42}{space 1}  -18.92{col 51}{space 3}0.000{col 59}{space 4}-.0915721{col 72}{space 3}-.0743779
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 9.093076{col 31}{space 2} .6644923{col 42}{space 1}   13.68{col 51}{space 3}0.000{col 59}{space 4} 7.790358{col 72}{space 3} 10.39579
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res}  1.074392
          {txt}sigma_e {c |} {res} .88547091
              {txt}rho {c |} {res} .59550758{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}144{txt}, {res}4679{txt}) = {res}4.51{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. sort ccode year
{txt}
{com}. 
. *Table A5
. preserve
{txt}
{com}. qui xtreg is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend , fe
{txt}
{com}. keep if e(sample)
{txt}(863 observations deleted)

{com}. 
. set seed 1
{txt}
{com}. gen random1 = uniform()
{txt}
{com}. sort random1
{txt}
{com}. 
. qui psmatch2 pkdummy is100growth lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend, noreplacement descending
{txt}
{com}. xtset ccode year
{res}{txt}{col 8}panel variable:  {res}ccode (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1971 to 2012, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. xtreg is100growth lpkdummy lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend  if _weight==1, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       524
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       115

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1778{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0257{col 63}{txt}avg{col 67}={col 69}{res}       4.6
{txt}     overall = {res}0.0304{col 63}{txt}max{col 67}={col 69}{res}        35

{txt}{col 49}F({res}11{txt},{res}398{txt}){col 67}={col 70}{res}     7.82
{txt}corr(u_i, Xb){col 16}= {res}-0.9498{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lpkdummy {c |}{col 19}{res}{space 2}-.2576171{col 31}{space 2}  .214962{col 42}{space 1}   -1.20{col 51}{space 3}0.231{col 59}{space 4}-.6802199{col 72}{space 3} .1649857
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0901401{col 31}{space 2} .2141106{col 42}{space 1}    0.42{col 51}{space 3}0.674{col 59}{space 4}-.3307891{col 72}{space 3} .5110692
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3721995{col 31}{space 2} .2755615{col 42}{space 1}    1.35{col 51}{space 3}0.178{col 59}{space 4}-.1695386{col 72}{space 3} .9139375
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0641904{col 31}{space 2} .1275264{col 42}{space 1}   -0.50{col 51}{space 3}0.615{col 59}{space 4}-.3148999{col 72}{space 3} .1865192
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-2.311082{col 31}{space 2} .3650834{col 42}{space 1}   -6.33{col 51}{space 3}0.000{col 59}{space 4}-3.028815{col 72}{space 3}-1.593349
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000855{col 31}{space 2} .0000392{col 42}{space 1}    2.18{col 51}{space 3}0.030{col 59}{space 4} 8.51e-06{col 72}{space 3} .0001625
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} -.018672{col 31}{space 2} .0034867{col 42}{space 1}   -5.36{col 51}{space 3}0.000{col 59}{space 4}-.0255267{col 72}{space 3}-.0118173
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.0987876{col 31}{space 2}  .099602{col 42}{space 1}   -0.99{col 51}{space 3}0.322{col 59}{space 4}-.2945994{col 72}{space 3} .0970242
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0024104{col 31}{space 2} .0046263{col 42}{space 1}    0.52{col 51}{space 3}0.603{col 59}{space 4}-.0066846{col 72}{space 3} .0115054
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0488563{col 31}{space 2} .0205154{col 42}{space 1}    2.38{col 51}{space 3}0.018{col 59}{space 4} .0085242{col 72}{space 3} .0891884
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0299251{col 31}{space 2} .0155928{col 42}{space 1}    1.92{col 51}{space 3}0.056{col 59}{space 4}-.0007294{col 72}{space 3} .0605795
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} -43.0254{col 31}{space 2} 29.78287{col 42}{space 1}   -1.44{col 51}{space 3}0.149{col 59}{space 4}-101.5768{col 72}{space 3}   15.526
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 3.6567995
          {txt}sigma_e {c |} {res} 1.3229592
              {txt}rho {c |} {res} .88426304{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}114{txt}, {res}398{txt}) = {res}2.24{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth lPKOtrad lPKOtrans lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend  if _weight==1, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       524
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       115

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1810{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0249{col 63}{txt}avg{col 67}={col 69}{res}       4.6
{txt}     overall = {res}0.0296{col 63}{txt}max{col 67}={col 69}{res}        35

{txt}{col 49}F({res}12{txt},{res}397{txt}){col 67}={col 70}{res}     7.31
{txt}corr(u_i, Xb){col 16}= {res}-0.9493{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}lPKOtrad {c |}{col 19}{res}{space 2}-.0767017{col 31}{space 2} .2586066{col 42}{space 1}   -0.30{col 51}{space 3}0.767{col 59}{space 4}-.5851113{col 72}{space 3} .4317079
{txt}{space 8}lPKOtrans {c |}{col 19}{res}{space 2}-.4871785{col 31}{space 2} .2820068{col 42}{space 1}   -1.73{col 51}{space 3}0.085{col 59}{space 4}-1.041592{col 72}{space 3} .0672347
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2}    .0749{col 31}{space 2} .2142988{col 42}{space 1}    0.35{col 51}{space 3}0.727{col 59}{space 4}-.3464023{col 72}{space 3} .4962023
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3188557{col 31}{space 2} .2786157{col 42}{space 1}    1.14{col 51}{space 3}0.253{col 59}{space 4}-.2288909{col 72}{space 3} .8666023
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0759378{col 31}{space 2} .1277764{col 42}{space 1}   -0.59{col 51}{space 3}0.553{col 59}{space 4}-.3271408{col 72}{space 3} .1752651
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-2.345902{col 31}{space 2} .3658696{col 42}{space 1}   -6.41{col 51}{space 3}0.000{col 59}{space 4}-3.065186{col 72}{space 3}-1.626618
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000817{col 31}{space 2} .0000392{col 42}{space 1}    2.08{col 51}{space 3}0.038{col 59}{space 4} 4.52e-06{col 72}{space 3} .0001588
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}  -.01832{col 31}{space 2} .0034955{col 42}{space 1}   -5.24{col 51}{space 3}0.000{col 59}{space 4}-.0251919{col 72}{space 3}-.0114481
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.1021584{col 31}{space 2} .0995659{col 42}{space 1}   -1.03{col 51}{space 3}0.305{col 59}{space 4}-.2979007{col 72}{space 3} .0935838
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0024829{col 31}{space 2} .0046233{col 42}{space 1}    0.54{col 51}{space 3}0.592{col 59}{space 4}-.0066063{col 72}{space 3} .0115721
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0489756{col 31}{space 2} .0205007{col 42}{space 1}    2.39{col 51}{space 3}0.017{col 59}{space 4} .0086721{col 72}{space 3} .0892792
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0321016{col 31}{space 2} .0156774{col 42}{space 1}    2.05{col 51}{space 3}0.041{col 59}{space 4} .0012804{col 72}{space 3} .0629228
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-47.13516{col 31}{space 2} 29.94048{col 42}{space 1}   -1.57{col 51}{space 3}0.116{col 59}{space 4}-105.9969{col 72}{space 3} 11.72654
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 3.6869342
          {txt}sigma_e {c |} {res} 1.3219988
              {txt}rho {c |} {res}   .886079{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}114{txt}, {res}397{txt}) = {res}2.26{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth llPKObudget lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared lsecondary trend  if _weight==1, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       524
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       115

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1841{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0246{col 63}{txt}avg{col 67}={col 69}{res}       4.6
{txt}     overall = {res}0.0297{col 63}{txt}max{col 67}={col 69}{res}        35

{txt}{col 49}F({res}11{txt},{res}398{txt}){col 67}={col 70}{res}     8.17
{txt}corr(u_i, Xb){col 16}= {res}-0.9489{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}llPKObudget {c |}{col 19}{res}{space 2}-.0849864{col 31}{space 2} .0398447{col 42}{space 1}   -2.13{col 51}{space 3}0.034{col 59}{space 4}-.1633189{col 72}{space 3}-.0066539
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0940693{col 31}{space 2} .2131632{col 42}{space 1}    0.44{col 51}{space 3}0.659{col 59}{space 4}-.3249973{col 72}{space 3}  .513136
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3466406{col 31}{space 2} .2744831{col 42}{space 1}    1.26{col 51}{space 3}0.207{col 59}{space 4}-.1929773{col 72}{space 3} .8862586
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0697296{col 31}{space 2} .1263763{col 42}{space 1}   -0.55{col 51}{space 3}0.581{col 59}{space 4} -.318178{col 72}{space 3} .1787189
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-2.291054{col 31}{space 2} .3572398{col 42}{space 1}   -6.41{col 51}{space 3}0.000{col 59}{space 4}-2.993366{col 72}{space 3}-1.588741
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000802{col 31}{space 2} .0000391{col 42}{space 1}    2.05{col 51}{space 3}0.041{col 59}{space 4} 3.36e-06{col 72}{space 3} .0001571
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2} -.018531{col 31}{space 2} .0034678{col 42}{space 1}   -5.34{col 51}{space 3}0.000{col 59}{space 4}-.0253485{col 72}{space 3}-.0117134
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.0950418{col 31}{space 2}  .099206{col 42}{space 1}   -0.96{col 51}{space 3}0.339{col 59}{space 4} -.290075{col 72}{space 3} .0999914
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2} .0020595{col 31}{space 2} .0046122{col 42}{space 1}    0.45{col 51}{space 3}0.655{col 59}{space 4}-.0070079{col 72}{space 3} .0111268
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0446093{col 31}{space 2} .0205755{col 42}{space 1}    2.17{col 51}{space 3}0.031{col 59}{space 4} .0041591{col 72}{space 3} .0850596
{txt}{space 12}trend {c |}{col 19}{res}{space 2}  .037545{col 31}{space 2} .0161224{col 42}{space 1}    2.33{col 51}{space 3}0.020{col 59}{space 4} .0058493{col 72}{space 3} .0692406
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-58.24294{col 31}{space 2} 30.88518{col 42}{space 1}   -1.89{col 51}{space 3}0.060{col 59}{space 4}-118.9614{col 72}{space 3} 2.475546
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 3.6556229
          {txt}sigma_e {c |} {res} 1.3178336
              {txt}rho {c |} {res} .88498974{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}114{txt}, {res}398{txt}) = {res}2.30{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth pkyears pkyearsq lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend if _weight==1, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       524
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       115

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1840{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0268{col 63}{txt}avg{col 67}={col 69}{res}       4.6
{txt}     overall = {res}0.0346{col 63}{txt}max{col 67}={col 69}{res}        35

{txt}{col 49}F({res}12{txt},{res}397{txt}){col 67}={col 70}{res}     7.46
{txt}corr(u_i, Xb){col 16}= {res}-0.9473{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}pkyears {c |}{col 19}{res}{space 2}-.0192736{col 31}{space 2} .0311606{col 42}{space 1}   -0.62{col 51}{space 3}0.537{col 59}{space 4}-.0805339{col 72}{space 3} .0419868
{txt}{space 9}pkyearsq {c |}{col 19}{res}{space 2} .0011693{col 31}{space 2} .0007147{col 42}{space 1}    1.64{col 51}{space 3}0.103{col 59}{space 4}-.0002357{col 72}{space 3} .0025744
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0890669{col 31}{space 2} .2145325{col 42}{space 1}    0.42{col 51}{space 3}0.678{col 59}{space 4}-.3326949{col 72}{space 3} .5108288
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3503714{col 31}{space 2} .2762034{col 42}{space 1}    1.27{col 51}{space 3}0.205{col 59}{space 4}-.1926327{col 72}{space 3} .8933754
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0670876{col 31}{space 2} .1266381{col 42}{space 1}   -0.53{col 51}{space 3}0.597{col 59}{space 4}-.3160527{col 72}{space 3} .1818775
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-2.423873{col 31}{space 2} .3689918{col 42}{space 1}   -6.57{col 51}{space 3}0.000{col 59}{space 4}-3.149295{col 72}{space 3}-1.698451
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000824{col 31}{space 2} .0000394{col 42}{space 1}    2.09{col 51}{space 3}0.037{col 59}{space 4} 4.94e-06{col 72}{space 3} .0001599
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0176837{col 31}{space 2} .0035536{col 42}{space 1}   -4.98{col 51}{space 3}0.000{col 59}{space 4}-.0246698{col 72}{space 3}-.0106976
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.0927575{col 31}{space 2} .0994406{col 42}{space 1}   -0.93{col 51}{space 3}0.351{col 59}{space 4}-.2882536{col 72}{space 3} .1027385
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}  .002576{col 31}{space 2} .0046137{col 42}{space 1}    0.56{col 51}{space 3}0.577{col 59}{space 4}-.0064944{col 72}{space 3} .0116463
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0600808{col 31}{space 2} .0208963{col 42}{space 1}    2.88{col 51}{space 3}0.004{col 59}{space 4} .0189996{col 72}{space 3}  .101162
{txt}{space 12}trend {c |}{col 19}{res}{space 2} .0123227{col 31}{space 2} .0174908{col 42}{space 1}    0.70{col 51}{space 3}0.482{col 59}{space 4}-.0220636{col 72}{space 3} .0467089
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-7.659883{col 31}{space 2} 33.99535{col 42}{space 1}   -0.23{col 51}{space 3}0.822{col 59}{space 4} -74.4933{col 72}{space 3} 59.17353
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res}  3.707577
          {txt}sigma_e {c |} {res} 1.3196022
              {txt}rho {c |} {res}   .887564{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}114{txt}, {res}397{txt}) = {res}2.27{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtreg is100growth postpkdummyyears postpkdummyyearsq  lagpriominorconflict lagpriomajorconflict lnbconflict laggdplog laginflation lagtrade lagpolity20 lagpolity20squared  lsecondary trend if _weight==1, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       524
{txt}Group variable: {res}ccode{txt}{col 49}Number of groups{col 67}={col 69}{res}       115

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1836{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0244{col 63}{txt}avg{col 67}={col 69}{res}       4.6
{txt}     overall = {res}0.0294{col 63}{txt}max{col 67}={col 69}{res}        35

{txt}{col 49}F({res}12{txt},{res}397{txt}){col 67}={col 70}{res}     7.44
{txt}corr(u_i, Xb){col 16}= {res}-0.9509{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      is100growth{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      t{col 51}   P>|t|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}postpkdummyyears {c |}{col 19}{res}{space 2} .0326216{col 31}{space 2} .0197502{col 42}{space 1}    1.65{col 51}{space 3}0.099{col 59}{space 4}-.0062064{col 72}{space 3} .0714496
{txt}postpkdummyyearsq {c |}{col 19}{res}{space 2}-.0004695{col 31}{space 2} .0004547{col 42}{space 1}   -1.03{col 51}{space 3}0.302{col 59}{space 4}-.0013634{col 72}{space 3} .0004244
{txt}lagpriominorcon~t {c |}{col 19}{res}{space 2} .0533655{col 31}{space 2} .2145371{col 42}{space 1}    0.25{col 51}{space 3}0.804{col 59}{space 4}-.3684054{col 72}{space 3} .4751363
{txt}lagpriomajorcon~t {c |}{col 19}{res}{space 2} .3004659{col 31}{space 2} .2790878{col 42}{space 1}    1.08{col 51}{space 3}0.282{col 59}{space 4}-.2482088{col 72}{space 3} .8491406
{txt}{space 6}lnbconflict {c |}{col 19}{res}{space 2}-.0642424{col 31}{space 2}  .126612{col 42}{space 1}   -0.51{col 51}{space 3}0.612{col 59}{space 4}-.3131562{col 72}{space 3} .1846714
{txt}{space 8}laggdplog {c |}{col 19}{res}{space 2}-2.339689{col 31}{space 2} .3624668{col 42}{space 1}   -6.45{col 51}{space 3}0.000{col 59}{space 4}-3.052283{col 72}{space 3}-1.627095
{txt}{space 5}laginflation {c |}{col 19}{res}{space 2} .0000793{col 31}{space 2} .0000393{col 42}{space 1}    2.02{col 51}{space 3}0.044{col 59}{space 4} 2.11e-06{col 72}{space 3} .0001565
{txt}{space 9}lagtrade {c |}{col 19}{res}{space 2}-.0186821{col 31}{space 2} .0034695{col 42}{space 1}   -5.38{col 51}{space 3}0.000{col 59}{space 4} -.025503{col 72}{space 3}-.0118611
{txt}{space 6}lagpolity20 {c |}{col 19}{res}{space 2}-.0873428{col 31}{space 2} .0996079{col 42}{space 1}   -0.88{col 51}{space 3}0.381{col 59}{space 4}-.2831677{col 72}{space 3} .1084822
{txt}lagpolity20squa~d {c |}{col 19}{res}{space 2}  .002023{col 31}{space 2} .0046229{col 42}{space 1}    0.44{col 51}{space 3}0.662{col 59}{space 4}-.0070654{col 72}{space 3} .0111113
{txt}{space 7}lsecondary {c |}{col 19}{res}{space 2} .0449984{col 31}{space 2}  .020607{col 42}{space 1}    2.18{col 51}{space 3}0.030{col 59}{space 4} .0044859{col 72}{space 3} .0855109
{txt}{space 12}trend {c |}{col 19}{res}{space 2}  .032307{col 31}{space 2}  .016189{col 42}{space 1}    2.00{col 51}{space 3}0.047{col 59}{space 4} .0004802{col 72}{space 3} .0641338
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-47.87377{col 31}{space 2} 31.01886{col 42}{space 1}   -1.54{col 51}{space 3}0.124{col 59}{space 4}-108.8555{col 72}{space 3} 13.10799
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
          sigma_u {c |} {res} 3.6987473
          {txt}sigma_e {c |} {res} 1.3198956
              {txt}rho {c |} {res} .88704268{txt}   (fraction of variance due to u_i)
{hline 18}{c BT}{hline 64}
F test that all u_i=0: F({res}114{txt}, {res}397{txt}) = {res}2.28{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. restore
{txt}
{com}. 
. 
. 
{txt}end of do-file

{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\unknown\Dropbox\Labor, Rentier States and SE\PK and SE\REPLICATION Data and Do Files\BlantonPeksenCMPSreplication log.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}16 Jan 2024, 22:22:32
{txt}{.-}
{smcl}
{txt}{sf}{ul off}